Gateway Investment Advisers LLC Buys 4,229 Shares of AbbVie Inc. $ABBV

Gateway Investment Advisers LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 376,280 shares of the company’s stock after acquiring an additional 4,229 shares during the period. AbbVie comprises 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 22nd largest position. Gateway Investment Advisers LLC’s holdings in AbbVie were worth $85,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Weil Company Inc. raised its holdings in shares of AbbVie by 2.3% during the third quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock valued at $469,000 after acquiring an additional 46 shares in the last quarter. Hardin Capital Partners LLC raised its holdings in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock valued at $759,000 after acquiring an additional 46 shares in the last quarter. Inlet Private Wealth LLC raised its holdings in shares of AbbVie by 0.3% during the third quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company’s stock valued at $3,937,000 after acquiring an additional 47 shares in the last quarter. D.B. Root & Company LLC raised its holdings in shares of AbbVie by 4.3% during the third quarter. D.B. Root & Company LLC now owns 1,152 shares of the company’s stock valued at $267,000 after acquiring an additional 47 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in shares of AbbVie by 1.5% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,162 shares of the company’s stock valued at $722,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares of the company’s stock, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of ABBV opened at $205.14 on Thursday. The stock has a market cap of $362.72 billion, a PE ratio of 101.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32. AbbVie Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $244.81. The firm’s 50-day simple moving average is $213.69 and its two-hundred day simple moving average is $221.19.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 911.57%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. Equities research analysts predict that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. AbbVie’s dividend payout ratio (DPR) is presently 340.89%.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: New long?term gastroenterology data — AbbVie presented 18 abstracts at Digestive Disease Week showing supportive long?term and real?world data for SKYRIZI (risankizumab) and RINVOQ (upadacitinib), which can bolster label positioning and commercial durability in IBD. AbbVie Highlights New Long-Term Data at DDW (PR Newswire)
• Positive Sentiment: Dividend appeal — several income-oriented outlets featured AbbVie as a high?yield, reliable dividend stock (Dividend King), which supports steady investor demand from income-focused funds. 6 Pharma Dividend Stocks Yielding Up to 6.44% (247WallSt)
• Positive Sentiment: Investor visibility — management will appear at the Bank of America Securities Healthcare Conference on May 13 (fireside chat), offering a chance for updated commercial color or guidance that could move the stock. AbbVie to Present at the Bank of America Securities Healthcare Conference (PR Newswire)
• Neutral Sentiment: Analyst/retail interest — multiple trending and “is it a buy?” pieces are driving attention but offer mixed views; useful for gauging retail flow rather than immediate fundamental change. Is Trending Stock AbbVie Inc. (ABBV) a Buy Now? (Zacks)
• Neutral Sentiment: Strategic/tech engagement — AbbVie appeared among industry leaders at Zifo’s SiEE summit on practical AI in life sciences; longer?term operational upside but unclear near?term impact. Zifo’s SiEE Boston Summit Charts New Roadmap (Yahoo)
• Neutral Sentiment: Peripheral industry moves — news such as Timothy P. Walbert joining Patient Square is industry?level and not directly tied to AbbVie fundamentals. Timothy P. Walbert Joins Patient Square Capital (Yahoo)
• Negative Sentiment: Regulatory/manufacturing setback — the U.S. FDA declined to approve AbbVie’s wrinkle treatment over manufacturing concerns (reported April 23), highlighting execution and regulatory risk that can weigh on aesthetics revenue and investor confidence. FDA Declines Approval of AbbVie Wrinkle Treatment (MSN)

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley upped their target price on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. Evercore lowered their price objective on AbbVie from $232.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Finally, Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $252.90.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.