Hurley Capital LLC Makes New $139,000 Investment in AbbVie Inc. (NYSE:ABBV)

Hurley Capital LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 756 shares of the company’s stock, valued at approximately $139,000.

A number of other institutional investors also recently modified their holdings of the company. Howard Capital Management Group LLC grew its position in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares during the period. Principal Financial Group Inc. boosted its holdings 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 buying an additional 273,078 shares during the last quarter. United Bank bought a new stake in AbbVie during the third quarter valued at about $217,000. Quantbot Technologies LP purchased a new position in shares of AbbVie during the 3rd quarter valued at $152,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in shares of AbbVie by 109.3% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,493 shares of the company’s stock valued at $1,282,000 after acquiring an additional 3,391 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated 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 sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Five equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Price Performance

NYSE:ABBV opened at $186.58 on Friday. The stock has a market capitalization of $330.06 billion, a PE ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s 50-day moving average price is $200.61 and its 200-day moving average price is $189.24.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the company earned $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 annualized dividend and a dividend yield of 3.52%. AbbVie’s dividend payout ratio (DPR) is presently 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.