AM Investment Strategies LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

AM Investment Strategies LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 19.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,100 shares of the company’s stock after purchasing an additional 825 shares during the period. AM Investment Strategies LLC’s holdings in AbbVie were worth $790,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ABBV. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after buying an additional 6,012,281 shares during the period. International Assets Investment Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $499,955,000. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of AbbVie by 201.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after acquiring an additional 1,433,236 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of AbbVie by 34.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after acquiring an additional 1,130,638 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.3 %

Shares of NYSE:ABBV traded down $0.52 during trading hours on Thursday, reaching $167.28. The stock had a trading volume of 5,502,087 shares, compared to its average volume of 5,594,213. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The firm’s 50 day moving average is $174.94 and its 200-day moving average is $160.67. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market capitalization of $296.19 billion, a price-to-earnings ratio of 61.27, a P/E/G ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm posted $3.60 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. Truist Financial upped their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets upped their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, William Blair upgraded shares of 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently 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.