Headlands Technologies LLC Makes New $522,000 Investment in AbbVie Inc. (NYSE:ABBV)

Headlands Technologies LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,370 shares of the company’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC raised its holdings in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Horrell Capital Management Inc. bought a new position in shares of AbbVie in the third quarter valued at about $45,000. Bourgeon Capital Management LLC raised its holdings in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the last quarter. Naples Money Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at about $53,000. Finally, Core Wealth Advisors Inc. raised its holdings in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV traded down $7.67 during mid-day trading on Friday, reaching $159.62. 10,721,740 shares of the company’s stock were exchanged, compared to its average volume of 5,004,945. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market capitalization of $282.63 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The business’s fifty day simple moving average is $174.59 and its two-hundred day simple moving average is $160.74. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping 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 business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’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 transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ABBV. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. 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 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.