DE Burlo Group Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,921 shares of the company's stock after selling 2,230 shares during the quarter. DE Burlo Group Inc.'s holdings in AbbVie were worth $4,962,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Howard Capital Management Group LLC grew 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 valued at $397,000 after purchasing an additional 339 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of AbbVie by 1.0% in the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company's stock valued at $3,403,000 after purchasing an additional 171 shares during the last quarter. Morse Asset Management Inc grew its position in shares of AbbVie by 2.4% in the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company's stock valued at $1,494,000 after purchasing an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. acquired a new stake in shares of AbbVie in the third quarter valued at about $466,000. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Price Performance
Shares of ABBV stock traded up $6.37 during trading hours on Monday, hitting $192.43. 10,397,934 shares of the company's stock were exchanged, compared to its average volume of 6,062,959. The stock's 50-day moving average is $196.85 and its 200-day moving average is $187.13. 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 stock has a market cap of $340.40 billion, a price-to-earnings ratio of 80.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. 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 announced its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
The company also recently declared 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. This represents a $6.56 annualized dividend and a yield of 3.41%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is 279.15%.
Insider Activity at AbbVie
In related news, 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 $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 over the last 90 days. Insiders own 0.25% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on ABBV shares. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday. Bank of America lifted their target price on 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 lifted their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.32.
Read Our Latest Analysis on ABBV
About AbbVie
(
Free Report)
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.
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