AbbVie Inc. (NYSE:ABBV) Stake Boosted by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,469 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in AbbVie were worth $2,242,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wealth Alliance grew its holdings in AbbVie by 8.8% in the 4th quarter. Wealth Alliance now owns 25,731 shares of the company’s stock worth $3,988,000 after buying an additional 2,091 shares in the last quarter. Main Street Research LLC grew its holdings in AbbVie by 3.5% in the 4th quarter. Main Street Research LLC now owns 10,154 shares of the company’s stock worth $1,574,000 after buying an additional 343 shares in the last quarter. Riverstone Advisors LLC bought a new position in AbbVie in the 4th quarter worth approximately $207,000. Octavia Wealth Advisors LLC grew its holdings in AbbVie by 32.9% in the 4th quarter. Octavia Wealth Advisors LLC now owns 3,060 shares of the company’s stock worth $474,000 after buying an additional 758 shares in the last quarter. Finally, United Asset Strategies Inc. grew its holdings in AbbVie by 14.6% in the 4th quarter. United Asset Strategies Inc. now owns 13,919 shares of the company’s stock worth $2,157,000 after buying an additional 1,772 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.5 %

Shares of ABBV opened at $162.54 on Wednesday. The stock has a market cap of $287.80 billion, a price-to-earnings ratio of 59.54, a P/E/G ratio of 2.09 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a 50-day moving average price of $176.01 and a two-hundred day moving average price of $159.91.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.60 earnings per share. Equities analysts predict that AbbVie Inc. will post 11.12 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABBV. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Company 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.