Rogco LP Buys 2,481 Shares of AbbVie Inc. (NYSE:ABBV)

Rogco LP grew its stake in AbbVie Inc. (NYSE:ABBV) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,298 shares of the company’s stock after purchasing an additional 2,481 shares during the quarter. AbbVie makes up approximately 1.0% of Rogco LP’s investment portfolio, making the stock its 19th largest holding. Rogco LP’s holdings in AbbVie were worth $2,371,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC grew its stake in shares of 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 acquiring an additional 81 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in AbbVie in the 4th quarter valued at about $44,000. Horrell Capital Management Inc. bought a new position in AbbVie in the 3rd quarter valued at about $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated 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 directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Truist Financial raised their price target 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. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.31.

AbbVie Trading Down 1.6 %

ABBV traded down $2.53 during trading on Thursday, reaching $159.19. 1,279,616 shares of the stock traded hands, compared to its average volume of 5,602,795. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $281.87 billion, a PE ratio of 47.99, a P/E/G ratio of 2.04 and a beta of 0.61. The stock’s 50-day moving average is $173.74 and its 200 day moving average is $161.10. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 11.3 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.89%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

AbbVie 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.