BFI Infinity Ltd. Makes New $365,000 Investment in AbbVie Inc. (NYSE:ABBV)

BFI Infinity Ltd. acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,055 shares of the company's stock, valued at approximately $365,000. AbbVie accounts for about 0.4% of BFI Infinity Ltd.'s portfolio, making the stock its 28th largest position.

Several other institutional investors also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie during the third quarter worth $999,000. Saturna Capital Corp boosted its holdings in shares of 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 buying an additional 560,808 shares during the period. Everence Capital Management Inc. grew its stake in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its holdings in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC lifted its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after acquiring an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on AbbVie from $226.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 13th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective for the company. Five 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 stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $205.50.

AbbVie Price Performance

Shares of ABBV traded down $2.21 during mid-day trading on Friday, reaching $171.49. The company had a trading volume of 7,581,211 shares, compared to its average volume of 5,538,325. The company has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company's 50 day simple moving average is $176.88 and its 200 day simple moving average is $184.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is an increase from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is currently 215.28%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.