Evergreen Capital Management LLC Has $10.24 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Evergreen Capital Management LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,612 shares of the company's stock after purchasing an additional 2,099 shares during the quarter. Evergreen Capital Management LLC's holdings in AbbVie were worth $10,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its stake in AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. increased its holdings in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. raised its position in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock valued at $1,749,000 after buying an additional 58 shares during the last quarter. Finally, Doliver Advisors LP grew its position in AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock worth $938,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 9th. Morgan Stanley restated a "hold" rating on shares of AbbVie in a research note on Friday, April 11th. Guggenheim reissued a "buy" rating and issued a $214.00 price target on shares of AbbVie in a research report on Thursday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Seven research 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. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $210.71.

AbbVie Trading Up 0.6 %

Shares of NYSE ABBV traded up $1.10 during midday trading on Friday, hitting $172.78. The stock had a trading volume of 8,474,425 shares, compared to its average volume of 5,997,458. The firm has a market cap of $305.64 billion, a P/E ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company's 50-day simple moving average is $198.85 and its 200 day simple moving average is $187.99.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie's dividend payout ratio is currently 273.33%.

AbbVie Company 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.