Homestead Advisers Corp Has $126.64 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Homestead Advisers Corp boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 712,660 shares of the company's stock after buying an additional 26,800 shares during the quarter. AbbVie makes up about 3.1% of Homestead Advisers Corp's holdings, making the stock its 7th largest position. Homestead Advisers Corp's holdings in AbbVie were worth $126,640,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its position in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock worth $397,000 after buying an additional 339 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after acquiring an additional 273,078 shares in the last quarter. United Bank bought a new stake in shares of AbbVie during the 3rd quarter valued at about $217,000. Algert Global LLC purchased a new position in shares of AbbVie during the third quarter worth about $1,436,000. Finally, Quantbot Technologies LP bought a new position in shares of AbbVie in the third quarter worth approximately $152,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Daiwa Capital Markets lowered AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.45.

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AbbVie Stock Up 1.2 %

Shares of NYSE:ABBV traded up $2.40 during trading on Friday, hitting $205.12. The stock had a trading volume of 6,477,974 shares, compared to its average volume of 5,704,425. The company has a market capitalization of $362.85 billion, a PE ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm's fifty day moving average is $197.50 and its 200 day moving average is $188.95. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the company posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company's stock.

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.