The Manufacturers Life Insurance Company increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,290,058 shares of the company's stock after purchasing an additional 20,204 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.13% of AbbVie worth $406,943,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Howard Capital Management Group LLC raised its holdings 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 acquiring an additional 339 shares in the last quarter. Principal Financial Group Inc. raised its stake in AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock worth $491,204,000 after buying an additional 273,078 shares in the last quarter. Westside Investment Management Inc. lifted 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 valued at $3,403,000 after buying an additional 171 shares during the last quarter. Morse Asset Management Inc grew its holdings in AbbVie by 2.4% in the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company's stock worth $1,494,000 after purchasing an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. purchased a new stake in AbbVie in the third quarter valued at about $466,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade 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 this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.25% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $211.19.
Check Out Our Latest Report on AbbVie
AbbVie Stock Performance
Shares of ABBV stock opened at $185.96 on Monday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. 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 has a market capitalization of $328.96 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The business has a 50 day simple moving average of $196.85 and a 200 day simple moving average of $187.13.
AbbVie (NYSE:ABBV - Get Free Report) last released 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the firm posted $2.31 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is presently 279.15%.
About AbbVie
(
Free Report)
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.
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