Mcdonald Partners LLC Acquires 1,874 Shares of AbbVie Inc. (NYSE:ABBV)

Mcdonald Partners LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,952 shares of the company's stock after purchasing an additional 1,874 shares during the period. AbbVie makes up about 1.1% of Mcdonald Partners LLC's holdings, making the stock its 20th biggest position. Mcdonald Partners LLC's holdings in AbbVie were worth $4,256,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp boosted its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of AbbVie by 59.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after buying an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $2,009,542,000 after buying an additional 582,953 shares during the period. Finally, Saturna Capital Corp lifted its stake in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Finally, Bank of America restated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $208.35.

AbbVie Stock Performance

NYSE:ABBV traded up $1.15 during midday trading on Friday, reaching $202.03. The stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,841,370. The stock has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a PEG ratio of 1.58 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The firm's fifty day simple moving average is $180.68 and its 200-day simple moving average is $186.29.

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 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 last year, the company earned $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

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.