Colrain Capital LLC Buys New Shares in AbbVie Inc. (NYSE:ABBV)

Colrain Capital LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,500 shares of the company’s stock, valued at approximately $2,754,000. AbbVie comprises approximately 2.7% of Colrain Capital LLC’s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors have also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Physicians Financial Services Inc. raised its position in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares in the last quarter. Doliver Advisors LP boosted its position in shares of AbbVie by 1.1% in the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock worth $938,000 after buying an additional 59 shares during the period. Finally, Sound Financial Strategies Group LLC grew its stake in shares of AbbVie by 5.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after buying an additional 60 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $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. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 in the last ninety days. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

ABBV stock opened at $205.12 on Monday. The stock has a market capitalization of $362.85 billion, a price-to-earnings ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a 50-day moving average of $197.50 and a two-hundred day moving average of $188.91. 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 current ratio of 0.66 and a quick ratio of 0.55.

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

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

About AbbVie

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.