Ilmarinen Mutual Pension Insurance Co Purchases 63,500 Shares of AbbVie Inc. (NYSE:ABBV)

Ilmarinen Mutual Pension Insurance Co raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 29.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,500 shares of the company's stock after acquiring an additional 63,500 shares during the period. AbbVie comprises approximately 0.4% of Ilmarinen Mutual Pension Insurance Co's holdings, making the stock its 26th largest holding. Ilmarinen Mutual Pension Insurance Co's holdings in AbbVie were worth $49,312,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in AbbVie during the 4th quarter valued at about $32,000. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ABBV shares. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday. Wells Fargo & Company upped their price objective 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. Raymond James reiterated an "outperform" rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Morgan Stanley increased their price target on AbbVie from $239.00 to $241.00 and gave the stock an "overweight" rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $210.71.

AbbVie Stock Performance

NYSE:ABBV traded down $6.56 on Wednesday, hitting $169.11. The company's stock had a trading volume of 7,688,058 shares, compared to its average volume of 6,796,794. 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 one year low of $153.58 and a one year high of $218.66. The stock has a fifty day moving average of $200.79 and a two-hundred day moving average of $188.90. The firm has a market capitalization of $299.15 billion, a P/E ratio of 70.46, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

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 analysts' consensus estimates 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 firm earned $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 3.88%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Over 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 insiders.

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.