Tempus Wealth Planning LLC purchased a new position in AbbVie Inc (NYSE:ABBV) in the fourth quarter, Holdings Channel reports. The fund purchased 3,788 shares of the company’s stock, valued at approximately $335,000.
A number of other institutional investors have also recently modified their holdings of ABBV. Hoey Investments Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $31,000. Altshuler Shaham Ltd lifted its position in shares of AbbVie by 8,825.0% during the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock worth $32,000 after buying an additional 353 shares during the last quarter. Solstein Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Americana Partners LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Finally, Virtus ETF Advisers LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $33,000. Institutional investors own 72.20% of the company’s stock.
In other AbbVie news, VP Brian L. Durkin acquired 3,750 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $68.82 per share, for a total transaction of $258,075.00. Following the transaction, the vice president now directly owns 15,294 shares of the company’s stock, valued at $1,052,533.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Rapp acquired 2,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of $91.75 per share, for a total transaction of $263,781.25. Over the last ninety days, insiders have bought 8,825 shares of company stock worth $671,852. Corporate insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 7th. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.02. AbbVie had a net margin of 23.69% and a negative return on equity of 162.54%. The business had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.68 billion. During the same period in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts expect that AbbVie Inc will post 10.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $1.18 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 6.19%. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.
Several brokerages have recently weighed in on ABBV. Mizuho boosted their price objective on shares of AbbVie from $96.00 to $104.00 in a research report on Monday, February 10th. Cowen lifted their target price on shares of AbbVie from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Barclays started coverage on shares of AbbVie in a report on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 target price on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $86.00 target price on shares of AbbVie in a report on Thursday, January 23rd. Finally, Piper Sandler lifted their target price on shares of AbbVie from to and gave the company an “overweight” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. AbbVie has an average rating of “Hold” and a consensus price target of $91.83.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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