LMG Wealth Partners LLC Buys 820 Shares of AbbVie Inc. (NYSE:ABBV)

LMG Wealth Partners LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,741 shares of the company’s stock after purchasing an additional 820 shares during the period. LMG Wealth Partners LLC’s holdings in AbbVie were worth $3,863,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ABBV. State Street Corp boosted its holdings in AbbVie by 1.6% in 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. FMR LLC lifted its position in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after buying an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV opened at $197.30 on Thursday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market capitalization of $348.66 billion, a price-to-earnings ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58. The business’s 50-day moving average price is $179.67 and its two-hundred day moving average price is $186.11. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last announced 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 net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business posted $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.