Plancorp LLC Purchases 1,250 Shares of AbbVie Inc. (NYSE:ABBV)

Plancorp LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,555 shares of the company’s stock after buying an additional 1,250 shares during the quarter. Plancorp LLC’s holdings in AbbVie were worth $2,942,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its holdings 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 buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $29,000. Promus Capital LLC purchased a new position in shares of AbbVie in the fourth quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.9 %

NYSE ABBV opened at $209.98 on Friday. The company’s 50-day moving average price is $194.49 and its 200-day moving average price is $188.73. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $370.68 billion, a PE ratio of 87.49, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 quarter in the prior year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Transactions at AbbVie

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets upped their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (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 assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Company 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.