ZEGA Investments LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

ZEGA Investments LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,685 shares of the company's stock, valued at approximately $1,990,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in AbbVie in the 4th quarter valued at about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ABBV. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $211.45.

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AbbVie Trading Down 0.1 %

ABBV traded down $0.18 on Wednesday, hitting $201.16. The company had a trading volume of 6,742,701 shares, compared to its average volume of 5,272,068. The company's fifty day moving average price is $195.65 and its 200 day moving average price is $188.78. AbbVie Inc. has a 1 year low of $153.58 and a 1 year 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 firm has a market cap of $355.13 billion, a P/E ratio of 83.82, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 previous year, the company earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. AbbVie's payout ratio is presently 273.33%.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the firm's 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 completion of the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

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.