Synergy Investment Management LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Synergy Investment Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 271 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors have also modified their holdings of the company. Pinion Investment Advisors LLC lifted its holdings in shares of AbbVie by 3.5% in the fourth quarter. Pinion Investment Advisors LLC now owns 4,206 shares of the company’s stock valued at $747,000 after buying an additional 143 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in shares of AbbVie by 1.4% in the fourth quarter. Bedel Financial Consulting Inc. now owns 12,477 shares of the company’s stock valued at $2,392,000 after buying an additional 175 shares during the period. WMG Financial Advisors LLC lifted its holdings in shares of AbbVie by 4.5% in the fourth quarter. WMG Financial Advisors LLC now owns 2,137 shares of the company’s stock valued at $380,000 after buying an additional 93 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of AbbVie by 8.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 270,178 shares of the company’s stock valued at $48,011,000 after buying an additional 21,250 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABBV. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley boosted their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $209.95.

AbbVie Stock Performance

Shares of ABBV stock opened at $208.12 on Wednesday. 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 Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66. The stock’s 50-day moving average is $185.64 and its two-hundred day moving average is $187.14. The firm has a market cap of $367.40 billion, a P/E ratio of 86.72, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned $2.79 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,439 shares of company stock valued at $11,377,057. 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.