Pine Valley Investments Ltd Liability Co Raises Position in AbbVie Inc. (NYSE:ABBV)

Pine Valley Investments Ltd Liability Co raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,839 shares of the company's stock after purchasing an additional 22,052 shares during the period. AbbVie makes up about 0.9% of Pine Valley Investments Ltd Liability Co's investment portfolio, making the stock its 20th largest holding. Pine Valley Investments Ltd Liability Co's holdings in AbbVie were worth $14,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. GGM Financials LLC boosted its position in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Dillon & Associates Inc. lifted its holdings in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after acquiring an additional 52 shares during the period. WFA Asset Management Corp lifted its stake in shares of AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company's stock worth $1,383,000 after purchasing an additional 55 shares during the period. Physicians Financial Services Inc. boosted its stake in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after acquiring an additional 55 shares during the last quarter. Finally, Carr Financial Group Corp lifted its position in AbbVie by 1.1% during the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company's stock valued at $1,041,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Trading Up 1.0 %

Shares of AbbVie stock traded up $2.05 on Thursday, reaching $205.06. The company had a trading volume of 5,692,933 shares, compared to its average volume of 5,871,798. The firm has a market cap of $362.00 billion, a price-to-earnings ratio of 85.44, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm's 50-day moving average price is $183.75 and its two-hundred day moving average price is $186.85. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 period in the prior year, the company earned $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.20%. AbbVie's payout ratio is 273.33%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Argus raised shares of AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.35.

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.