Naples Money Management LLC Invests $53,000 in AbbVie Inc. (NYSE:ABBV)

Naples Money Management LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 341 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors have also modified their holdings of the company. PCA Investment Advisory Services Inc. purchased a new stake in AbbVie in the second quarter valued at $38,000. True Wealth Design LLC purchased a new stake in AbbVie in the fourth quarter valued at $39,000. Blue Bell Private Wealth Management LLC increased its stake in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in AbbVie in the third quarter valued at $45,000. Finally, KB Financial Partners LLC acquired a new position in AbbVie in the first quarter valued at $45,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. BMO Capital Markets lifted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James upped their target price 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. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Truist Financial upped their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

Shares of ABBV opened at $166.41 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $294.65 billion, a price-to-earnings ratio of 60.96, a PEG ratio of 2.12 and a beta of 0.58. The company’s 50 day simple moving average is $175.44 and its 200 day simple moving average is $160.10. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

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.