AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Bessemer Group Inc.

Bessemer Group Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 147.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,752,953 shares of the company's stock after acquiring an additional 1,641,091 shares during the quarter. AbbVie accounts for approximately 1.0% of Bessemer Group Inc.'s portfolio, making the stock its 18th largest holding. Bessemer Group Inc. owned about 0.16% of AbbVie worth $576,800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC raised its position in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares during the last quarter. Connecticut Wealth Management LLC lifted its stake in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after buying an additional 57 shares in the last quarter. Finally, Northstar Group Inc. grew its holdings in AbbVie by 0.7% during the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company's stock valued at $1,783,000 after buying an additional 58 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

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 shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 0.9%

NYSE ABBV traded up $1.67 on Thursday, reaching $187.06. The company had a trading volume of 5,728,909 shares, compared to its average volume of 6,227,638. The firm has a market capitalization of $330.42 billion, a PE ratio of 18.05, a P/E/G ratio of 1.23 and a beta of 0.50. The firm has a 50-day moving average of $185.74 and a 200-day moving average of $187.81. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

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 analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the company posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

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.