Intellus Advisors LLC Takes $731,000 Position in AbbVie Inc. (NYSE:ABBV)

Intellus Advisors LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,114 shares of the company’s stock, valued at approximately $731,000.

Other large investors have also added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth $29,000. Promus Capital LLC bought a new position in AbbVie during the 4th quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the 4th quarter valued at $31,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Guggenheim lifted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Trading Down 0.9 %

Shares of ABBV stock opened at $209.98 on Friday. The stock has a market capitalization of $370.68 billion, a price-to-earnings ratio of 87.49, a PEG ratio of 1.62 and a beta of 0.61. The company’s fifty day simple moving average is $194.49 and its two-hundred day simple moving average is $188.73. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.12%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock valued at $11,067,025. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.