AbbVie Inc. (NYSE:ABBV) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI raised its position in AbbVie Inc. (NYSE:ABBV) by 44.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,299 shares of the company’s stock after acquiring an additional 8,689 shares during the period. Citizens Financial Group Inc. RI’s holdings in AbbVie were worth $4,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Heritage Financial Services LLC boosted its stake in AbbVie by 7.8% in the fourth quarter. Heritage Financial Services LLC now owns 3,159 shares of the company’s stock valued at $490,000 after acquiring an additional 228 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in shares of AbbVie by 0.8% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 21,502 shares of the company’s stock worth $3,332,000 after buying an additional 181 shares during the period. Herold Advisors Inc. lifted its stake in shares of AbbVie by 1.8% during the fourth quarter. Herold Advisors Inc. now owns 38,778 shares of the company’s stock worth $6,010,000 after buying an additional 682 shares during the period. First Fiduciary Investment Counsel Inc. lifted its stake in shares of AbbVie by 3.1% during the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 4,314 shares of the company’s stock worth $669,000 after buying an additional 131 shares during the period. Finally, AM Investment Strategies LLC lifted its stake in shares of AbbVie by 19.3% during the fourth quarter. AM Investment Strategies LLC now owns 5,100 shares of the company’s stock worth $790,000 after buying an additional 825 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. BMO Capital Markets lifted 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 upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 13,753 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Over the last quarter, 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 Performance

ABBV traded down $7.67 on Friday, reaching $159.62. The stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business’s 50-day moving average price is $174.59 and its two-hundred day moving average price is $160.74. The company has a market cap of $282.63 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current 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 issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s payout ratio is 227.11%.

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.