HM Payson & Co. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 615,703 shares of the company's stock after purchasing an additional 37,287 shares during the period. AbbVie accounts for approximately 1.9% of HM Payson & Co.'s holdings, making the stock its 12th biggest holding. HM Payson & Co.'s holdings in AbbVie were worth $109,410,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after purchasing an additional 52 shares during the period. Blue Bell Private Wealth Management LLC raised its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Carr Financial Group Corp raised its position in AbbVie by 1.1% in the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company's stock valued at $1,041,000 after buying an additional 56 shares during the last quarter. Finally, Wealthstream Advisors Inc. raised its position in AbbVie by 3.0% in the 3rd quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company's stock valued at $386,000 after buying an additional 56 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ABBV. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target for the company. Finally, Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.
View Our Latest Analysis on AbbVie
AbbVie Stock Performance
ABBV traded up $3.80 during trading hours on Friday, hitting $214.55. The stock had a trading volume of 6,800,068 shares, compared to its average volume of 6,084,956. The company's fifty day simple moving average is $187.63 and its 200 day simple moving average is $187.53. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The stock has a market cap of $378.75 billion, a PE ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is presently 273.33%.
Insider Buying and Selling at AbbVie
In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.
AbbVie Company Profile
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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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