Amalgamated Bank lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,413 shares of the company's stock after selling 15,605 shares during the period. AbbVie accounts for 0.5% of Amalgamated Bank's investment portfolio, making the stock its 24th largest holding. Amalgamated Bank's holdings in AbbVie were worth $64,934,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. AMF Tjanstepension AB acquired a new stake in shares of AbbVie in the 3rd quarter worth $8,777,000. Swedbank AB lifted its position in AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock valued at $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC boosted its holdings in AbbVie by 20.3% in the 3rd 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 in the last quarter. Boston Trust Walden Corp increased its position in AbbVie by 1.1% during the 3rd quarter. Boston Trust Walden Corp now owns 26,040 shares of the company's stock worth $5,142,000 after purchasing an additional 284 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in AbbVie by 5.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 6,115 shares of the company's stock worth $1,208,000 after purchasing an additional 314 shares during the period. 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 AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $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 is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business'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 sale, the executive vice president now owns 22,381 shares of the company's stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.
AbbVie Trading Up 1.0 %
Shares of NYSE:ABBV traded up $2.05 during trading on Thursday, reaching $205.06. The stock had a trading volume of 5,692,933 shares, compared to its average volume of 5,871,798. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business has a fifty day moving average price of $183.75 and a 200-day moving average price of $186.85. The stock has a market cap of $362.00 billion, a P/E ratio of 85.44, a PEG ratio of 1.62 and a beta of 0.58. 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 issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" 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 on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $208.35.
Check Out Our Latest Stock Report 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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