Freestone Capital Holdings LLC Has $11.67 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Freestone Capital Holdings LLC grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,696 shares of the company's stock after buying an additional 1,584 shares during the period. Freestone Capital Holdings LLC's holdings in AbbVie were worth $11,674,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABBV. State Street Corp lifted its position in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 period. FMR LLC lifted its stake in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.9 %

AbbVie stock opened at $211.61 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $215.66. The stock's 50 day simple moving average is $186.27 and its two-hundred day simple moving average is $187.31. The firm has a market cap of $373.57 billion, a PE ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. AbbVie's payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective for the company. Raymond James reissued an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction 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 sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,439 shares of company stock worth $11,377,057. Corporate insiders own 0.25% of the company's stock.

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.

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