Longbow Finance SA Buys 1,860 Shares of AbbVie Inc. (NYSE:ABBV)

Longbow Finance SA boosted its stake in AbbVie Inc. (NYSE:ABBV) by 5.0% during the 4th quarter, HoldingsChannel reports. The fund owned 39,265 shares of the company’s stock after acquiring an additional 1,860 shares during the quarter. Longbow Finance SA’s holdings in AbbVie were worth $6,977,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the 4th quarter valued at about $35,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at about $39,000. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $204.02 on Tuesday. The company has a market cap of $360.17 billion, a price-to-earnings ratio of 85.01, a PEG ratio of 1.62 and a beta of 0.58. 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 50 day simple moving average of $181.90 and a 200 day simple moving average of $186.51. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 company posted $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, April 15th. 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.