Fidelis Capital Partners LLC Buys 2,607 Shares of AbbVie Inc. (NYSE:ABBV)

Fidelis Capital Partners LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 19.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,164 shares of the company’s stock after acquiring an additional 2,607 shares during the period. Fidelis Capital Partners LLC’s holdings in AbbVie were worth $2,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Retirement Income Solutions Inc bought a new position in AbbVie in the first quarter worth approximately $204,000. Ergoteles LLC raised its stake in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares in the last quarter. First Western Trust Bank bought a new position in AbbVie in the first quarter worth approximately $1,150,000. Wsfs Capital Management LLC bought a new position in AbbVie in the first quarter worth approximately $562,000. Finally, Bridgewater Associates LP raised its stake in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after buying an additional 33,661 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock traded up $0.41 during mid-day trading on Thursday, reaching $164.66. The company’s stock had a trading volume of 4,479,202 shares, compared to its average volume of 5,637,517. The stock has a market cap of $291.56 billion, a PE ratio of 60.89, a P/E/G ratio of 2.09 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company’s 50 day moving average is $175.79 and its two-hundred day moving average is $159.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the company posted $3.60 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 11.17 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.77%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. BMO Capital Markets boosted 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. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays upped their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity

In other news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last 90 days. Company insiders own 0.25% of the company’s stock.

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.