AbbVie Inc. (NYSE:ABBV) Shares Bought by F M Investments LLC

F M Investments LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,371 shares of the company’s stock after acquiring an additional 7,226 shares during the quarter. F M Investments LLC’s holdings in AbbVie were worth $10,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $1,190,951,000. FMR LLC raised its stake in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after buying an additional 3,373,156 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $179.81 on Thursday. 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 firm has a market capitalization of $318.08 billion, a price-to-earnings ratio of 74.92, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The business has a 50 day simple moving average of $200.79 and a 200 day simple moving average of $188.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the firm posted $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.65%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie 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 completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday. Morgan Stanley lifted their price target on shares of AbbVie from $239.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.71.

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.