Select Asset Management & Trust Takes $1.07 Million Position in AbbVie Inc. (NYSE:ABBV)

Select Asset Management & Trust purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,000 shares of the company's stock, valued at approximately $1,066,000. AbbVie accounts for about 0.4% of Select Asset Management & Trust's portfolio, making the stock its 27th largest position.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors raised its position in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after buying an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the period. Finally, Norges Bank acquired a new stake in AbbVie during the fourth quarter worth approximately $4,459,385,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on ABBV. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Morgan Stanley reaffirmed a "hold" rating on shares of AbbVie in a research note on Friday, April 11th. Finally, Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.19.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Up 2.0 %

NYSE ABBV traded up $3.50 during mid-day trading on Wednesday, reaching $177.28. 7,116,632 shares of the company's stock traded hands, compared to its average volume of 6,025,439. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a fifty day simple moving average of $197.62 and a 200-day simple moving average of $187.44. The company has a market cap of $313.60 billion, a price-to-earnings ratio of 73.87, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.70%. AbbVie's payout ratio is 273.33%.

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.