Atria Investments Inc Buys 4,237 Shares of AbbVie Inc. (NYSE:ABBV)

Atria Investments Inc increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,857 shares of the company's stock after purchasing an additional 4,237 shares during the quarter. Atria Investments Inc's holdings in AbbVie were worth $31,072,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABBV. Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. State Street Corp raised its holdings in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Proficio Capital Partners LLC lifted its stake in AbbVie by 26,693.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company's stock valued at $209,109,000 after purchasing an additional 1,172,362 shares during the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in AbbVie during the fourth quarter worth about $186,431,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after buying an additional 582,953 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV traded up $3.85 during trading hours on Wednesday, hitting $211.61. 5,752,733 shares of the company were exchanged, compared to its average volume of 6,109,327. The company has a market cap of $373.57 billion, a price-to-earnings ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58. The firm's fifty day moving average is $186.27 and its 200 day moving average is $187.31. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 quarter last year, the company earned $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.10%. AbbVie's dividend payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Bank of America raised their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday. Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Finally, UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.45.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock worth $11,377,057 over the last three months. Insiders own 0.25% of the company's stock.

About AbbVie

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.