Cary Street Partners Financial LLC purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 123,013 shares of the company's stock, valued at approximately $21,859,000. AbbVie comprises about 0.7% of Cary Street Partners Financial LLC's portfolio, making the stock its 28th biggest holding.
Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP raised its holdings in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares during the period. AXA S.A. lifted its position in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Sky Investment Group LLC boosted its position in 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 buying an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in AbbVie by 16.5% during the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company's stock valued at $4,523,000 after purchasing an additional 3,654 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business'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 in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% of the company's stock.
AbbVie Price Performance
Shares of AbbVie stock traded down $8.75 during trading on Tuesday, hitting $187.32. The stock had a trading volume of 9,383,456 shares, compared to its average volume of 6,092,383. The business has a fifty day moving average of $195.64 and a two-hundred day moving average of $187.27. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm has a market cap of $331.37 billion, a P/E ratio of 78.05, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.50%. AbbVie's dividend payout ratio is currently 279.15%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ABBV. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Raymond James reiterated 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. Finally, Truist Financial upped their price target on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.41.
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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