NewEdge Advisors LLC Has $88.36 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

NewEdge Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 497,253 shares of the company's stock after purchasing an additional 44,335 shares during the period. NewEdge Advisors LLC's holdings in AbbVie were worth $88,362,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Howard Capital Management Group LLC raised its position in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock worth $397,000 after purchasing an additional 339 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after acquiring an additional 273,078 shares during the period. Westside Investment Management Inc. grew its position in shares of AbbVie by 1.0% during the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company's stock worth $3,403,000 after acquiring an additional 171 shares during the last quarter. Morse Asset Management Inc lifted its position in AbbVie by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,563 shares of the company's stock valued at $1,494,000 after purchasing an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. bought a new position in AbbVie in the 3rd quarter worth about $466,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ABBV. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. UBS Group increased their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, StockNews.com lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.71.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Up 0.6 %

Shares of NYSE:ABBV traded up $1.10 during trading on Friday, reaching $172.78. 8,474,425 shares of the company traded hands, compared to its average volume of 5,997,458. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $305.64 billion, a P/E ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The firm has a fifty day simple moving average of $198.85 and a 200 day simple moving average of $187.99.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the company earned $2.79 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. AbbVie's dividend payout ratio is currently 273.33%.

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.