GM Advisory Group LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

GM Advisory Group LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 41.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,590 shares of the company’s stock after buying an additional 1,056 shares during the quarter. GM Advisory Group LLC’s holdings in AbbVie were worth $638,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swedbank AB boosted its position in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC boosted its holdings in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after acquiring an additional 339 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares during the period. United Bank purchased a new position in shares of AbbVie during the third quarter valued at approximately $217,000. Finally, BIP Wealth LLC lifted its position in AbbVie by 25.9% during the third quarter. BIP Wealth LLC now owns 2,894 shares of the company’s stock valued at $572,000 after purchasing an additional 595 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.8 %

Shares of NYSE ABBV opened at $212.21 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business’s 50 day moving average is $193.14 and its two-hundred day moving average is $188.48. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The firm has a market cap of $374.62 billion, a price-to-earnings ratio of 88.42, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.