Argentarii LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,111 shares of the company's stock, valued at approximately $731,000.
Several other large investors have also recently bought and sold shares of ABBV. Swedbank AB lifted its position in shares of 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 buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC grew 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 buying an additional 339 shares in the last quarter. Principal Financial Group Inc. increased its position in AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock worth $491,204,000 after buying an additional 273,078 shares during the period. Consolidated Planning Corp lifted its holdings in shares of AbbVie by 12.8% during the third quarter. Consolidated Planning Corp now owns 2,088 shares of the company's stock worth $412,000 after buying an additional 237 shares in the last quarter. Finally, TFB Advisors LLC boosted its position in shares of AbbVie by 3.4% in the third quarter. TFB Advisors LLC now owns 1,783 shares of the company's stock valued at $352,000 after acquiring an additional 59 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Trading Up 1.8 %
NYSE:ABBV opened at $214.55 on Friday. The firm's fifty day moving average is $187.63 and its 200-day moving average is $187.53. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $215.66. The firm has a market cap of $378.75 billion, a P/E ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.61.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.
Insider Activity
In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ABBV. Raymond James reiterated an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. 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 note on Monday, February 3rd. Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $211.45.
View 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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