Edgemoor Investment Advisors Inc. Purchases 201 Shares of AbbVie Inc. (NYSE:ABBV)

Edgemoor Investment Advisors Inc. boosted its position in AbbVie Inc. (NYSE:ABBV) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,318 shares of the company’s stock after acquiring an additional 201 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in AbbVie were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in AbbVie in the fourth quarter valued at $851,000. Horizon Kinetics Asset Management LLC grew its stake in shares of AbbVie by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 26,048 shares of the company’s stock valued at $4,629,000 after buying an additional 203 shares during the last quarter. Curio Wealth LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $59,000. Cassady Schiller Wealth Management LLC grew its stake in shares of AbbVie by 3.1% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 2,689 shares of the company’s stock valued at $478,000 after buying an additional 80 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of AbbVie by 0.3% during the fourth quarter. TCTC Holdings LLC now owns 140,099 shares of the company’s stock valued at $24,896,000 after buying an additional 420 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Performance

Shares of ABBV opened at $211.90 on Monday. 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 price is $191.09 and its 200-day moving average price is $188.05. 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 $374.07 billion, a P/E ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter in the previous year, the business earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 issued 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 yield of 3.10%. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 in the last three months. 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.