Tower Research Capital LLC TRC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Tower Research Capital LLC TRC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 79.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,927 shares of the company's stock after acquiring an additional 41,082 shares during the period. Tower Research Capital LLC TRC's holdings in AbbVie were worth $16,513,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABBV. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $32,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the 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 completion of the sale, the executive vice president now directly owns 22,381 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last ninety days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ABBV shares. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Guggenheim reaffirmed a "buy" rating and set a $214.00 price target on shares of AbbVie in a research report on Thursday, April 17th. Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Seven research 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 company. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $211.19.

AbbVie Trading Up 1.7 %

AbbVie stock traded up $2.96 during mid-day trading on Thursday, hitting $180.01. 4,662,105 shares of the stock were exchanged, compared to its average volume of 6,021,072. The firm's fifty day simple moving average is $197.30 and its two-hundred day simple moving average is $187.37. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock has a market capitalization of $318.43 billion, a price-to-earnings ratio of 75.05, a PEG ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter in the prior year, the firm posted $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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 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 3.64%. AbbVie's dividend payout ratio is presently 273.33%.

AbbVie 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.