Riverstone Advisors LLC Invests $207,000 in AbbVie Inc. (NYSE:ABBV)

Riverstone Advisors LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,337 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also bought and sold shares of ABBV. Hibernia Wealth Partners LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $36,000. PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie during the second quarter worth $38,000. True Wealth Design LLC bought a new stake in AbbVie in the 4th quarter valued at $39,000. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at approximately $45,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and decreased their price target for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

AbbVie stock traded up $1.40 during mid-day trading on Tuesday, hitting $163.07. 2,328,738 shares of the company’s stock traded hands, compared to its average volume of 5,629,264. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a market cap of $288.74 billion, a price-to-earnings ratio of 59.91, a P/E/G ratio of 2.07 and a beta of 0.58. The firm has a 50 day simple moving average of $176.23 and a two-hundred day simple moving average of $159.81. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.60 EPS. On average, research analysts expect that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.80%. AbbVie’s payout ratio is presently 227.11%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by company insiders.

AbbVie Profile

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.