Dagco Inc. Purchases 568 Shares of AbbVie Inc. (NYSE:ABBV)

Dagco Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,578 shares of the company’s stock after purchasing an additional 568 shares during the quarter. Dagco Inc.’s holdings in AbbVie were worth $1,524,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Howard Capital Management Group LLC boosted its stake in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of AbbVie by 1.0% during the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock valued at $3,403,000 after purchasing an additional 171 shares in the last quarter. Morse Asset Management Inc increased its holdings in AbbVie by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock worth $1,494,000 after buying an additional 175 shares in the last quarter. Finally, Aldebaran Financial Inc. purchased a new position in AbbVie in the 3rd quarter worth about $466,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABBV shares. StockNews.com downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 9th. Guggenheim lifted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.71.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’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 value of $12,359,426.56. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $174.90 on Monday. The stock has a 50-day moving average price of $200.16 and a 200 day moving average price of $188.47. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The stock has a market capitalization of $309.39 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm posted $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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 given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. AbbVie’s payout ratio is 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.