Generation Capital Management LLC Acquires New Holdings in AbbVie Inc. (NYSE:ABBV)

Generation Capital Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,875 shares of the company's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of AbbVie during the 4th quarter worth approximately $4,459,385,000. Raymond James Financial Inc. bought a new position in shares of AbbVie in the 4th quarter valued at $1,190,951,000. FMR LLC raised its holdings in shares of AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after acquiring an additional 3,373,156 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 2.4 %

Shares of NYSE ABBV traded up $4.04 during trading on Tuesday, hitting $174.20. The stock had a trading volume of 2,072,065 shares, compared to its average volume of 5,995,755. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a market capitalization of $308.15 billion, a PE ratio of 72.39, a PEG ratio of 1.62 and a beta of 0.55. The firm has a fifty day moving average of $198.01 and a two-hundred day moving average of $187.54. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $2.79 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were 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 directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley reissued a "hold" rating on shares of AbbVie in a report on Friday, April 11th. StockNews.com lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 9th. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $211.19.

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.