Blue Trust Inc. Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Blue Trust Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 48,171 shares of the company's stock after purchasing an additional 8,959 shares during the period. Blue Trust Inc.'s holdings in AbbVie were worth $8,560,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 sale, the senior vice president now 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 legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

NYSE:ABBV traded up $3.49 on Tuesday, reaching $196.36. 6,064,325 shares of the company's stock traded hands, compared to its average volume of 5,895,811. The stock has a 50-day simple moving average of $179.25 and a 200-day simple moving average of $186.06. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market cap of $347.00 billion, a PE ratio of 81.82, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.34%. AbbVie's payout ratio is 273.33%.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Raymond James restated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Bank of America reiterated a "neutral" rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. 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 company. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $208.35.

AbbVie Company 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.