Moment Partners LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,779 shares of the company's stock, valued at approximately $1,027,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in AbbVie during the 4th quarter worth about $1,190,951,000. Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Boston Partners lifted its stake in shares of AbbVie by 35.9% in the fourth quarter. Boston Partners now owns 5,687,472 shares of the company's stock worth $1,008,867,000 after acquiring an additional 1,503,875 shares during the period. Vanguard Group Inc. boosted its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Finally, State Street Corp increased its position 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 period. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Stock Up 1.2 %
NYSE ABBV traded up $2.40 during trading hours on Friday, hitting $205.12. The company's stock had a trading volume of 6,477,974 shares, compared to its average volume of 5,704,425. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company's 50-day simple moving average is $197.50 and its two-hundred day simple moving average is $188.95. The company has a market capitalization of $362.85 billion, a PE ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last announced 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 previous year, the firm posted $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is currently 273.33%.
Insider Buying and Selling
In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ABBV. Raymond James restated an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Finally, UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $211.45.
Check Out Our Latest Analysis on AbbVie
AbbVie Company Profile
(
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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