Zacks Investment Management lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 756,861 shares of the company's stock after selling 96,346 shares during the quarter. AbbVie accounts for about 1.2% of Zacks Investment Management's holdings, making the stock its 16th biggest position. Zacks Investment Management's holdings in AbbVie were worth $134,494,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP boosted its position in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the period. Everence Capital Management Inc. boosted its position in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC lifted its stake in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Sky Investment Group LLC grew its stake in shares of AbbVie by 10.1% in the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after purchasing an additional 3,936 shares during the period. Finally, Wedmont Private Capital raised its holdings in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company's stock worth $4,523,000 after buying an additional 3,654 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Stock Up 0.6 %
Shares of AbbVie stock traded up $1.10 during trading on Friday, reaching $172.78. The stock had a trading volume of 8,474,425 shares, compared to its average volume of 5,997,458. 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 company has a market capitalization of $305.64 billion, a price-to-earnings ratio of 71.99, a P/E/G 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 stock has a fifty day moving average price of $198.85 and a two-hundred day moving average price of $187.99.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the company posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.
Insider Buying and Selling
In related news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Raymond James reiterated an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $210.71.
Read Our Latest Stock Report on ABBV
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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