Kiker Wealth Management LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Kiker Wealth Management LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,565 shares of the company’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Raymond James Financial Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $1,190,951,000. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Boston Partners lifted its position in AbbVie by 35.9% during the fourth quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after buying an additional 1,503,875 shares during the period. State Street Corp lifted its holdings in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of AbbVie by 26,693.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after acquiring an additional 1,172,362 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.3 %

AbbVie stock opened at $211.54 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The stock has a market cap of $373.44 billion, a PE ratio of 88.14, a P/E/G ratio of 1.62 and a beta of 0.61. The stock has a 50-day moving average price of $193.80 and a 200 day moving average price of $188.64. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABBV shares. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last ninety days. 0.25% of the stock is owned by insiders.

AbbVie 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.