Integrated Wealth Concepts LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,559 shares of the company's stock after purchasing an additional 2,996 shares during the quarter. Integrated Wealth Concepts LLC's holdings in AbbVie were worth $9,695,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in AbbVie in the 4th quarter worth about $4,459,385,000. Raymond James Financial Inc. bought a new position in shares of AbbVie in the fourth quarter valued at approximately $1,190,951,000. FMR LLC boosted its holdings in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after acquiring an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after acquiring an additional 3,373,156 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.41.
Check Out Our Latest Report on ABBV
Insiders Place Their Bets
In other news, 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 represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last quarter. Corporate insiders own 0.25% of the company's stock.
AbbVie Stock Performance
Shares of NYSE:ABBV traded up $2.55 on Tuesday, hitting $194.89. The company had a trading volume of 2,382,315 shares, compared to its average volume of 6,048,938. The stock has a 50 day moving average price of $196.75 and a 200 day moving average price of $187.12. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $344.76 billion, a price-to-earnings ratio of 81.22, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given 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 dividend yield of 3.37%. AbbVie's payout ratio is presently 279.15%.
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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