Hudson Edge Investment Partners Inc. Acquires 5,713 Shares of AbbVie Inc. (NYSE:ABBV)

Hudson Edge Investment Partners Inc. lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,324 shares of the company's stock after buying an additional 5,713 shares during the period. AbbVie comprises 1.3% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 13th largest holding. Hudson Edge Investment Partners Inc.'s holdings in AbbVie were worth $6,988,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp grew its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after purchasing an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AbbVie by 6.1% during the 3rd 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 purchasing an additional 582,953 shares during the last quarter. Saturna Capital Corp grew its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Finally, FMR LLC grew its holdings in AbbVie by 3.9% during 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. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $202.03 on Friday. The company has a 50 day moving average price of $180.68 and a 200-day moving average price of $186.29. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market capitalization of $356.64 billion, a PE ratio of 84.18, a PEG ratio of 1.58 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 quarter in the prior year, the business posted $2.79 EPS. Equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ABBV shares. Guggenheim upped their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Bank of America reiterated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Argus raised shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $208.35.

AbbVie 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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