O Shaughnessy Asset Management LLC Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

O Shaughnessy Asset Management LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,691 shares of the company's stock after purchasing an additional 8,525 shares during the period. O Shaughnessy Asset Management LLC's holdings in AbbVie were worth $39,572,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ABBV. Groupama Asset Managment raised its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at $29,000. Promus Capital LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in AbbVie during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was 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 represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. Corporate insiders own 0.25% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ABBV shares. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.45.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $4.54 during midday trading on Monday, reaching $209.83. The company's stock had a trading volume of 11,093,562 shares, compared to its average volume of 5,725,897. 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 stock has a fifty day moving average of $197.50 and a 200 day moving average of $188.91. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a market capitalization of $371.19 billion, a PE ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the business posted $2.79 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.

About AbbVie

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.