7,293 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Advanced Portfolio Management LLC

Advanced Portfolio Management LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,293 shares of the company's stock, valued at approximately $1,341,000. AbbVie comprises 1.6% of Advanced Portfolio Management LLC's holdings, making the stock its 19th largest holding.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC lifted its stake in AbbVie by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its stake in AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after acquiring an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter worth about $4,459,385,000. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company'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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Up 0.8 %

Shares of ABBV stock traded up $1.49 during trading hours on Wednesday, reaching $188.64. 1,736,330 shares of the company's stock were exchanged, compared to its average volume of 6,075,362. The company has a market cap of $333.70 billion, a price-to-earnings ratio of 78.61, a P/E/G ratio of 1.62 and a beta of 0.56. 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 is $195.64 and its 200-day moving average is $187.27. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.31 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business 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 dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.48%. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ABBV shares. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.41.

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.