AbbVie Inc. (NYSE:ABBV) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,249 shares of the company's stock after purchasing an additional 1,402 shares during the quarter. AbbVie accounts for 1.2% of Convergence Investment Partners LLC's holdings, making the stock its 13th largest holding. Convergence Investment Partners LLC's holdings in AbbVie were worth $5,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter worth about $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $1.15 during mid-day trading on Friday, hitting $202.03. The stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market cap of $356.64 billion, a PE ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The company's 50-day simple moving average is $181.25 and its 200-day simple moving average is $186.41.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 last year, the company posted $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie's dividend payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABBV shares. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.