Legacy Bridge LLC Buys Shares of 472 AbbVie Inc. (NYSE:ABBV)

Legacy Bridge LLC bought a new stake in AbbVie Inc. (NYSE:ABBV – Get Rating) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 472 shares of the company’s stock, valued at approximately $76,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of AbbVie by 1.6% during the third quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock worth $20,939,769,000 after purchasing an additional 2,442,663 shares in the last quarter. State Street Corp lifted its position in shares of AbbVie by 0.5% during the third quarter. State Street Corp now owns 77,486,317 shares of the company’s stock worth $10,399,439,000 after purchasing an additional 366,695 shares in the last quarter. Legal & General Group Plc lifted its position in shares of AbbVie by 4.0% during the second quarter. Legal & General Group Plc now owns 12,530,360 shares of the company’s stock worth $1,919,162,000 after purchasing an additional 476,257 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of AbbVie by 9.3% during the second quarter. UBS Asset Management Americas Inc. now owns 11,011,386 shares of the company’s stock worth $1,686,504,000 after purchasing an additional 938,091 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AbbVie by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,904,988 shares of the company’s stock worth $1,443,588,000 after purchasing an additional 176,026 shares in the last quarter. Institutional investors and hedge funds own 67.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABBV. Piper Sandler increased their price target on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. StockNews.com lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 10th. SVB Leerink raised AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $135.00 to $153.00 in a report on Friday, February 10th. Piper Jaffray Companies increased their price target on AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Finally, Morgan Stanley decreased their price target on AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a report on Friday, February 10th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $161.12.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $9,280,095.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Elaine K. Sorg sold 15,003 shares of AbbVie stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total value of $2,325,465.00. Following the transaction, the senior vice president now directly owns 42,829 shares of the company’s stock, valued at $6,638,495. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,746 shares of company stock valued at $24,267,450. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV opened at $154.22 on Friday. The firm has a 50-day moving average price of $151.13 and a 200 day moving average price of $150.93. The firm has a market capitalization of $272.88 billion, a PE ratio of 23.33, a P/E/G ratio of 3.53 and a beta of 0.62. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 3.42. AbbVie Inc. has a 52-week low of $134.09 and a 52-week high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $15.12 billion during the quarter, compared to analyst estimates of $15.30 billion. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. AbbVie’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.31 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, April 13th. AbbVie’s payout ratio is 89.56%.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.