Signature Estate & Investment Advisors LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,169 shares of the company’s stock, valued at approximately $232,000.
Other hedge funds also recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of AbbVie in the third quarter worth $26,000. Harding Loevner LP increased its position in shares of AbbVie by 118.4% in the third quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of AbbVie in the third quarter worth $32,000. Roble Belko & Company Inc increased its position in shares of AbbVie by 70.8% in the third quarter. Roble Belko & Company Inc now owns 415 shares of the company’s stock worth $36,000 after acquiring an additional 172 shares in the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in shares of AbbVie in the third quarter worth $39,000. 67.49% of the stock is owned by hedge funds and other institutional investors.
AbbVie stock opened at $112.45 on Thursday. The firm’s 50-day moving average is $105.61 and its 200-day moving average is $96.04. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95. AbbVie Inc. has a 1 year low of $62.55 and a 1 year high of $113.41. The company has a market cap of $198.53 billion, a P/E ratio of 23.77, a PEG ratio of 1.49 and a beta of 0.84.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be given a $1.30 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.18. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Thursday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.
Several equities research analysts have recently issued reports on ABBV shares. JPMorgan Chase & Co. increased their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. SVB Leerink increased their price objective on shares of AbbVie from $119.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. The Goldman Sachs Group lowered shares of AbbVie from a “neutral” rating to a “sell” rating in a research report on Tuesday, October 20th. Berenberg Bank initiated coverage on shares of AbbVie in a research note on Tuesday, September 29th. They issued a “hold” rating and a $98.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 target price for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.50.
In other AbbVie news, EVP Timothy J. Richmond sold 51,990 shares of the business’s stock in a transaction dated Friday, November 27th. The shares were sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the transaction, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at approximately $5,458,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the business’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the transaction, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at $8,007,195. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,884 shares of company stock worth $30,552,196. Insiders own 0.09% of the company’s stock.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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