Stevens Capital Management LP Makes New $1.01 Million Investment in AbbVie Inc. (NYSE:ABBV)

Stevens Capital Management LP bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,654 shares of the company's stock, valued at approximately $1,005,000.

Several other hedge funds also recently made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC boosted its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares in the last quarter. Physicians Financial Services Inc. raised its position in shares of AbbVie by 0.5% in the fourth 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 period. Armstrong Advisory Group Inc. boosted its stake in shares of AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock worth $1,749,000 after acquiring an additional 58 shares in the last quarter. Canopy Partners LLC boosted its stake in shares of AbbVie by 1.4% during the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company's stock worth $860,000 after acquiring an additional 59 shares in the last quarter. Finally, Doliver Advisors LP increased its stake in shares of AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock valued at $938,000 after purchasing an additional 59 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company's stock.

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AbbVie Trading Up 0.7 %

NYSE ABBV traded up $1.49 on Thursday, reaching $202.79. The stock had a trading volume of 4,992,685 shares, compared to its average volume of 5,276,931. 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 price of $196.83 and a two-hundred day moving average price of $188.96. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market capitalization of $357.99 billion, a price-to-earnings ratio of 84.50, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data 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 company posted $2.79 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Piper Sandler upped their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.45.

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.