AbbVie Inc. (NYSE:ABBV) Shares Bought by Forum Financial Management LP

Forum Financial Management LP boosted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,788 shares of the company's stock after buying an additional 6,036 shares during the quarter. Forum Financial Management LP's holdings in AbbVie were worth $10,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ABBV. Howard Capital Management Group LLC boosted its position in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after buying an additional 339 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock worth $491,204,000 after acquiring an additional 273,078 shares during the period. Westside Investment Management Inc. raised its holdings in shares of AbbVie by 1.0% during the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company's stock worth $3,403,000 after purchasing an additional 171 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of AbbVie by 2.4% during the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company's stock worth $1,494,000 after purchasing an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. acquired a new position in AbbVie during the third quarter valued at $466,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV stock traded up $3.97 during midday trading on Tuesday, hitting $174.13. 2,072,065 shares of the stock were exchanged, compared to its average volume of 5,995,755. 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 stock has a market cap of $308.03 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 1.62 and a beta of 0.55. The stock's 50-day moving average price is $198.01 and its 200-day moving average price is $187.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 last year, the business posted $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 over the last quarter. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim restated a "buy" rating and issued a $214.00 price objective on shares of AbbVie in a report on Thursday, April 17th. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company upped 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. Finally, Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.19.

About AbbVie

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.