1,613 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Atlas Legacy Advisors LLC

Atlas Legacy Advisors LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,613 shares of the company's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position 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 worth $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. State Street Corp increased its position in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. increased its position in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after purchasing an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the 3rd 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 purchasing an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp increased its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 0.6 %

Shares of AbbVie stock traded up $1.15 during trading hours on Friday, reaching $202.03. The company's stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The stock's fifty day simple moving average is $181.25 and its two-hundred day simple moving average is $186.41. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is currently 273.33%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm'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 directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Guggenheim upped 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. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target for the company. BMO Capital Markets upped their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Finally, Bank of America restated a "neutral" rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Five 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $208.35.

AbbVie Profile

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.