AbbVie Inc. $ABBV Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 100.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,402 shares of the company’s stock after buying an additional 8,204 shares during the period. Fulcrum Asset Management LLP’s holdings in AbbVie were worth $4,318,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Burk Holdings LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $30,000. Marquette Asset Management LLC grew its holdings in shares of AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after buying an additional 48 shares in the last quarter. Principia Wealth Advisory LLC raised its position in shares of AbbVie by 38.9% in the second quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. IMG Wealth Management Inc. raised its position in shares of AbbVie by 3,060.0% in the second quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after buying an additional 153 shares during the last quarter. Finally, Tacita Capital Inc acquired a new position in shares of AbbVie in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABBV shares. Citigroup upped their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Erste Group Bank raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Guggenheim boosted their price target on AbbVie from $288.00 to $322.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Wells Fargo & Company increased their price target on AbbVie from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $297.46.

AbbVie Stock Performance

Shares of ABBV stock opened at $292.87 on Tuesday. AbbVie Inc. has a one year low of $190.75 and a one year high of $302.93. The company has a 50 day moving average price of $272.71 and a 200 day moving average price of $239.42. The firm has a market capitalization of $517.69 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The company had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. AbbVie’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.86 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s payout ratio is currently 119.10%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

AbbVie Profile

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.