MJP Associates Inc. ADV Has $1.10 Million Stake in AbbVie Inc. (NYSE:ABBV)

MJP Associates Inc. ADV boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,187 shares of the company’s stock after acquiring an additional 482 shares during the quarter. MJP Associates Inc. ADV’s holdings in AbbVie were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $29,000. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC bought a new stake in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie during the 4th quarter valued at about $32,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $184.30 on Monday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. 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 cap of $326.02 billion, a price-to-earnings ratio of 76.79, a PEG ratio of 1.62 and a beta of 0.56. The stock’s 50 day moving average price is $194.23 and its 200 day moving average price is $187.21.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm 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 business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABBV. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Seven investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.41.

AbbVie Company 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.