BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 150.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 472,704 shares of the company's stock after buying an additional 283,908 shares during the period. AbbVie comprises approximately 0.9% of BI Asset Management Fondsmaeglerselskab A S's investment portfolio, making the stock its 19th biggest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in AbbVie were worth $84,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter worth $29,000. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.2 %

NYSE ABBV traded up $2.17 on Wednesday, reaching $175.95. The company had a trading volume of 3,518,523 shares, compared to its average volume of 6,003,972. 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 stock has a market capitalization of $311.25 billion, a P/E ratio of 73.31, a P/E/G ratio of 1.62 and a beta of 0.55. The company's fifty day moving average is $197.62 and its 200 day moving average is $187.44. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 firm posted $2.79 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.73%. AbbVie's payout ratio is presently 273.33%.

Analyst Ratings Changes

Several research firms recently commented on ABBV. Bank of America lifted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Raymond James restated an "outperform" rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.19.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. 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.