Titleist Asset Management LLC Purchases 302 Shares of AbbVie Inc. (NYSE:ABBV)

Titleist Asset Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 24.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,519 shares of the company’s stock after buying an additional 302 shares during the period. Titleist Asset Management LLC’s holdings in AbbVie were worth $270,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the fourth quarter worth about $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $31,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the fourth quarter valued at approximately $32,000. Finally, Retirement Wealth Solutions LLC bought a new position in AbbVie during the fourth quarter valued at $35,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $186.11 on Tuesday. The company has a market capitalization of $329.22 billion, a P/E ratio of 77.55, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a fifty day moving average of $200.79 and a 200-day moving average of $189.13.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 dividend yield of 3.52%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABBV. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler upped their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.