Boussard & Gavaudan Investment Management LLP bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 120,000 shares of the company's stock, valued at approximately $21,144,000. AbbVie makes up approximately 1.8% of Boussard & Gavaudan Investment Management LLP's portfolio, making the stock its 17th largest position.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in AbbVie during the 4th quarter worth about $4,459,385,000. Raymond James Financial Inc. bought a new stake in AbbVie in the 4th quarter valued at approximately $1,190,951,000. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Boston Partners grew its stake in shares of AbbVie by 35.9% during the 4th quarter. Boston Partners now owns 5,687,472 shares of the company's stock worth $1,008,867,000 after acquiring an additional 1,503,875 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at AbbVie
In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 over the last three months. Corporate insiders own 0.25% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on ABBV. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Daiwa Capital Markets cut AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $211.45.
Check Out Our Latest Report on ABBV
AbbVie Trading Up 1.2 %
Shares of AbbVie stock traded up $2.40 on Monday, reaching $207.69. 3,051,580 shares of the company's stock were exchanged, compared to its average volume of 5,694,662. The company has a market capitalization of $367.40 billion, a P/E ratio of 86.54, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm's 50-day moving average is $197.50 and its two-hundred day moving average is $188.91.
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 296.28% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 3.16%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.
AbbVie Profile
(
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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