Centric Wealth Management Purchases 3,120 Shares of AbbVie Inc. $ABBV

Centric Wealth Management increased its position in AbbVie Inc. (NYSE:ABBV) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,129 shares of the company’s stock after buying an additional 3,120 shares during the quarter. AbbVie accounts for 1.4% of Centric Wealth Management’s portfolio, making the stock its 16th largest position. Centric Wealth Management’s holdings in AbbVie were worth $6,347,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Eclectic Associates Inc. ADV lifted its position in AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock worth $1,337,000 after buying an additional 45 shares during the last quarter. Weil Company Inc. lifted its position in AbbVie by 2.3% in the 3rd quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock worth $469,000 after buying an additional 46 shares during the last quarter. Hardin Capital Partners LLC lifted its position in AbbVie by 1.4% in the 4th quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after buying an additional 46 shares during the last quarter. Dogwood Wealth Management LLC lifted its position in AbbVie by 10.8% in the 4th quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after buying an additional 46 shares during the last quarter. Finally, Inlet Private Wealth LLC lifted its position in AbbVie by 0.3% in the 3rd quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company’s stock worth $3,937,000 after buying an additional 47 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $201.24 on Monday. AbbVie Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $244.81. The stock has a 50 day moving average price of $213.18 and a two-hundred day moving average price of $221.00. The company has a market capitalization of $355.83 billion, a P/E ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 14.32 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. AbbVie’s payout ratio is 340.89%.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president directly owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Guggenheim restated a “buy” rating and issued a $249.00 target price on shares of AbbVie in a research report on Friday, May 1st. Morgan Stanley boosted their target price on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Berenberg Bank set a $275.00 price objective on AbbVie in a research report on Tuesday, January 20th. William Blair reiterated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Canaccord Genuity Group boosted their price objective on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $252.90.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.