Cercano Management LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Cercano Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5,398.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 98,372 shares of the company's stock after purchasing an additional 96,583 shares during the quarter. Cercano Management LLC's holdings in AbbVie were worth $17,481,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% in the 4th 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 AbbVie during the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at $32,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABBV. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. UBS Group raised their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. StockNews.com raised shares of AbbVie from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Finally, Raymond James reiterated an "outperform" rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.41.

AbbVie Stock Down 1.2 %

ABBV opened at $196.04 on Tuesday. The company has a market cap of $346.79 billion, a P/E ratio of 81.68, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The business's 50-day moving average price is $196.00 and its 200-day moving average price is $187.27. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.35%. AbbVie's dividend payout ratio is presently 279.15%.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were 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 approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. Insiders own 0.25% of the company's stock.

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.

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