Westbourne Investments Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,285 shares of the company's stock, valued at approximately $1,295,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP increased its stake in shares of AbbVie by 35.8% in 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 during the period. Everence Capital Management Inc. raised its position in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Sky Investment Group LLC boosted its holdings in AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after acquiring an additional 3,936 shares during the last quarter. Institutional investors own 70.23% of the company's stock.
Insider Transactions at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction 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 sale, the executive vice president now owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on ABBV. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. StockNews.com upgraded shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Finally, Raymond James reaffirmed an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $211.41.
Read Our Latest Research Report on AbbVie
AbbVie Price Performance
AbbVie stock traded up $5.28 during midday trading on Friday, reaching $198.62. 6,424,665 shares of the stock were exchanged, compared to its average volume of 6,081,067. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market cap of $351.35 billion, a PE ratio of 82.76, a PEG ratio of 1.62 and a beta of 0.56. The company's fifty day moving average is $196.14 and its 200-day moving average is $187.25.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.31 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
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. This represents a $6.56 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) 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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