AbbVie Inc. (NYSE:ABBV) Shares Purchased by Tsfg LLC

Tsfg LLC grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,380 shares of the company's stock after purchasing an additional 1,826 shares during the period. AbbVie makes up approximately 5.0% of Tsfg LLC's holdings, making the stock its 4th largest holding. Tsfg LLC's holdings in AbbVie were worth $24,384,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at $4,459,385,000. GAMMA Investing LLC increased its position in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. purchased a new position in AbbVie in the fourth quarter valued at about $1,190,951,000. FMR LLC increased its holdings in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now 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 SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Wells Fargo & Company increased their price target 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock traded down $4.90 during trading on Friday, hitting $181.89. 29,262,557 shares of the stock were exchanged, compared to its average volume of 6,249,513. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock's fifty day moving average is $186.21 and its 200 day moving average is $188.01. The stock has a market cap of $321.29 billion, a PE ratio of 77.40, a P/E/G ratio of 1.21 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the business posted $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 279.15%.

About AbbVie

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.