Syon Capital LLC Purchases 3,371 Shares of AbbVie Inc. (NYSE:ABBV)

Syon Capital LLC boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 21,045 shares of the company's stock after acquiring an additional 3,371 shares during the period. Syon Capital LLC's holdings in AbbVie were worth $3,740,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares in the last quarter. Everence Capital Management Inc. lifted its holdings in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Sky Investment Group LLC grew its stake in AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after acquiring an additional 3,936 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 3.1 %

ABBV stock traded up $5.59 during midday trading on Friday, hitting $185.96. The company had a trading volume of 10,480,961 shares, compared to its average volume of 6,064,212. The stock has a market cap of $328.96 billion, a price-to-earnings ratio of 77.48, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. 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 stock's 50 day moving average price is $197.05 and its 200 day moving average price is $187.28.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. AbbVie's payout ratio is presently 273.33%.

Analyst Ratings Changes

Several research analysts have commented on ABBV shares. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday. They issued an "overweight" rating and a $210.00 price target for the company. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Guggenheim reaffirmed a "buy" rating and issued a $214.00 price target on shares of AbbVie in a report on Thursday, April 17th. Raymond James reiterated an "outperform" rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie 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. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.19.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last 90 days. Company insiders own 0.25% of the company's stock.

AbbVie Company 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.