Xponance Inc. Has $63.94 Million Position in AbbVie Inc. (NYSE:ABBV)

Xponance Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,600 shares of the company's stock after acquiring an additional 7,001 shares during the quarter. AbbVie makes up 0.8% of Xponance Inc.'s portfolio, making the stock its 18th biggest position. Xponance Inc.'s holdings in AbbVie were worth $63,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. AIA Group Ltd lifted its holdings in AbbVie by 42.7% during the 4th quarter. AIA Group Ltd now owns 11,700 shares of the company's stock worth $1,813,000 after buying an additional 3,499 shares during the last quarter. Cambridge Trust Co. lifted its stake in AbbVie by 0.4% during the fourth quarter. Cambridge Trust Co. now owns 27,819 shares of the company's stock worth $4,311,000 after purchasing an additional 119 shares during the last quarter. Twin Capital Management Inc. boosted its holdings in AbbVie by 3.9% in the fourth quarter. Twin Capital Management Inc. now owns 38,181 shares of the company's stock worth $5,917,000 after purchasing an additional 1,417 shares during the period. CapWealth Advisors LLC increased its stake in AbbVie by 11.2% during the fourth quarter. CapWealth Advisors LLC now owns 2,827 shares of the company's stock valued at $438,000 after purchasing an additional 284 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of AbbVie by 23.6% during the fourth quarter. Federated Hermes Inc. now owns 2,292,653 shares of the company's stock worth $355,292,000 after purchasing an additional 437,672 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.41 during trading on Thursday, hitting $164.66. The stock had a trading volume of 4,479,202 shares, compared to its average volume of 5,637,517. The business has a fifty day moving average of $175.59 and a two-hundred day moving average of $159.97. The firm has a market cap of $291.56 billion, a P/E ratio of 60.32, a PEG ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $14.02 billion. During the same period last year, the firm posted $3.60 earnings per share. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's dividend payout ratio is 227.11%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. BMO Capital Markets raised their target price on AbbVie from $187.00 to $195.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Barclays upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 27th. Finally, Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $177.43.

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.