Breed s Hill Capital LLC purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,642 shares of the company's stock, valued at approximately $1,184,000. AbbVie makes up 1.1% of Breed s Hill Capital LLC's holdings, making the stock its 20th largest holding.
Other large investors have also made changes to their positions in the company. Waypoint Capital Advisors LLC boosted its stake in shares of AbbVie by 75.2% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 4,143 shares of the company's stock worth $618,000 after purchasing an additional 1,778 shares during the period. Willis Johnson & Associates Inc. grew its position in AbbVie by 34.3% in the 3rd quarter. Willis Johnson & Associates Inc. now owns 3,227 shares of the company's stock valued at $481,000 after acquiring an additional 825 shares during the last quarter. Beacon Financial Advisory LLC lifted its position in shares of AbbVie by 3.4% during the third quarter. Beacon Financial Advisory LLC now owns 7,503 shares of the company's stock worth $1,118,000 after purchasing an additional 250 shares during the last quarter. Canal Capital Management LLC increased its stake in AbbVie by 3.0% in the 3rd quarter. Canal Capital Management LLC now owns 24,560 shares of the company's stock worth $3,661,000 after buying an additional 704 shares during the period. Finally, Chicago Capital LLC grew its stake in AbbVie by 0.5% in the 3rd quarter. Chicago Capital LLC now owns 43,014 shares of the company's stock worth $6,412,000 after acquiring an additional 200 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, February 6th. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a research note on Monday, April 29th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Finally, BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an "outperform" rating on the stock in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $174.31.
Check Out Our Latest Stock Analysis on AbbVie
Insider Activity
In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company's stock, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company's stock.
AbbVie Price Performance
NYSE:ABBV traded down $0.07 during mid-day trading on Thursday, hitting $160.38. 3,570,052 shares of the company's stock traded hands, compared to its average volume of 5,639,635. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $283.21 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm's 50 day simple moving average is $171.83 and its 200 day simple moving average is $161.61.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm had revenue of $12.31 billion during the quarter, compared to analysts' expectations of $11.93 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm's revenue was up .7% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 11.29 EPS for the current year.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's payout ratio is currently 183.98%.
AbbVie Company Profile
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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.
Further Reading
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