Aviso Wealth Management Has $2.55 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Aviso Wealth Management boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 34.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,375 shares of the company’s stock after acquiring an additional 3,719 shares during the quarter. AbbVie makes up approximately 1.3% of Aviso Wealth Management’s holdings, making the stock its 13th biggest holding. Aviso Wealth Management’s holdings in AbbVie were worth $2,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Everence Capital Management Inc. boosted its stake in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC increased its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the period. State Street Corp raised its stake 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 acquiring an additional 1,267,685 shares during the last quarter. Sky Investment Group LLC raised its stake in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after acquiring an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of AbbVie by 16.5% during the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 3.8 %

Shares of ABBV stock opened at $201.12 on Wednesday. The business has a 50-day moving average price of $195.65 and a two-hundred day moving average price of $188.78. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. 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 firm has a market cap of $355.05 billion, a P/E ratio of 83.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results 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 period in the prior year, the company posted $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given 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 3.26%. AbbVie’s payout ratio is 273.33%.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’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 completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lifted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. 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 note on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

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.