Gabelli Funds LLC Has $21.33 Million Stake in AbbVie Inc. (NYSE:ABBV)

Gabelli Funds LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,013 shares of the company's stock after selling 18,087 shares during the quarter. Gabelli Funds LLC's holdings in AbbVie were worth $21,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares in the last quarter. Everence Capital Management Inc. increased its holdings in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Sky Investment Group LLC lifted its stake in AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after purchasing an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in AbbVie by 16.5% in the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company's stock worth $4,523,000 after purchasing an additional 3,654 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other 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 transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

ABBV stock traded up $1.10 during trading hours on Friday, hitting $172.78. 8,474,425 shares of the stock traded hands, compared to its average volume of 6,005,419. The stock has a 50-day simple moving average of $198.47 and a 200 day simple moving average of $187.71. The company has a market cap of $305.64 billion, a P/E ratio of 71.99, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. 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 posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the business posted $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given 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 3.80%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Morgan Stanley reiterated a "hold" rating on shares of AbbVie in a research note on Friday, April 11th. StockNews.com downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 9th. Raymond James reiterated an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $210.71.

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.