Nearwater Capital Markets Ltd acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 197,000 shares of the company's stock, valued at approximately $35,007,000. AbbVie makes up approximately 1.0% of Nearwater Capital Markets Ltd's portfolio, making the stock its 27th biggest position.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Consilio Wealth Advisors LLC raised its holdings in AbbVie by 12.2% in the fourth quarter. Consilio Wealth Advisors LLC now owns 2,477 shares of the company's stock worth $440,000 after purchasing an additional 270 shares in the last quarter. Eastern Bank raised its stake in shares of AbbVie by 36.7% during the 4th quarter. Eastern Bank now owns 290,164 shares of the company's stock worth $51,562,000 after acquiring an additional 77,889 shares in the last quarter. Elevated Capital Advisors LLC raised its stake in shares of AbbVie by 11.8% during the 4th quarter. Elevated Capital Advisors LLC now owns 13,089 shares of the company's stock worth $2,326,000 after acquiring an additional 1,377 shares in the last quarter. Horizon Wealth Management LLC lifted its position in AbbVie by 4.6% during the fourth quarter. Horizon Wealth Management LLC now owns 3,625 shares of the company's stock valued at $644,000 after acquiring an additional 158 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in AbbVie by 37.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 44,002 shares of the company's stock valued at $7,819,000 after acquiring an additional 12,085 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.
Insider Activity
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company'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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction 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 trade represents a 20.52% decrease in their ownership of the stock. 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 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
ABBV has been the subject of several analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.41.
Read Our Latest Report on ABBV
AbbVie Stock Down 1.1%
AbbVie stock opened at $187.95 on Wednesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market capitalization of $332.48 billion, a PE ratio of 78.31, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The business has a 50 day simple moving average of $193.34 and a 200-day simple moving average of $187.23. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued 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 3.49%. AbbVie's payout ratio is currently 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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