Madison Investment Advisors LLC Buys Shares of 84,227 AbbVie Inc. (NYSE:ABBV)

Madison Investment Advisors LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,227 shares of the company's stock, valued at approximately $14,967,000.

Other hedge funds have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp increased its holdings in shares of AbbVie by 486.1% in the third 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. Everence Capital Management Inc. increased its holdings in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company's stock.

AbbVie Trading Down 0.8 %

ABBV opened at $211.80 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The business has a fifty day simple moving average of $189.84 and a 200-day simple moving average of $187.89. The firm has a market cap of $373.91 billion, a P/E ratio of 88.25, a P/E/G 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.

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AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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 earned $2.79 EPS. On average, equities analysts expect 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. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABBV. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.

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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