DORCHESTER WEALTH MANAGEMENT Co Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

DORCHESTER WEALTH MANAGEMENT Co increased its position in AbbVie Inc. (NYSE:ABBVFree Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,305 shares of the company’s stock after acquiring an additional 373 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in AbbVie were worth $1,132,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ABBV. Hibernia Wealth Partners LLC purchased a new position in AbbVie in the third quarter worth about $36,000. VitalStone Financial LLC grew its holdings in AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at $39,000. KB Financial Partners LLC acquired a new position in shares of AbbVie in the first quarter worth about $45,000. Finally, PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth about $38,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Down 0.9 %

Shares of NYSE ABBV traded down $1.71 during midday trading on Wednesday, hitting $178.98. 1,163,657 shares of the stock traded hands, compared to its average volume of 5,571,372. The company has a market cap of $316.91 billion, a PE ratio of 65.70, a P/E/G ratio of 2.30 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business has a 50 day moving average price of $175.80 and a two-hundred day moving average price of $158.87. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial raised their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets lifted their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

View Our Latest Research Report on ABBV

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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