AbbVie Inc. (NYSE:ABBV) Shares Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 20.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,158 shares of the company’s stock after acquiring an additional 1,902 shares during the period. AbbVie comprises about 1.1% of BluePath Capital Management LLC’s holdings, making the stock its 19th biggest holding. BluePath Capital Management LLC’s holdings in AbbVie were worth $1,972,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Financial & Tax Architects LLC lifted its stake in shares of AbbVie by 6.1% in the second quarter. Financial & Tax Architects LLC now owns 37,551 shares of the company’s stock worth $6,441,000 after buying an additional 2,146 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in AbbVie by 42.0% during the second quarter. E Fund Management Co. Ltd. now owns 18,710 shares of the company’s stock worth $3,209,000 after acquiring an additional 5,533 shares during the last quarter. Meridian Wealth Partners LLC boosted its position in AbbVie by 3.2% during the second quarter. Meridian Wealth Partners LLC now owns 5,013 shares of the company’s stock worth $860,000 after acquiring an additional 157 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in AbbVie by 53.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 486,025 shares of the company’s stock valued at $83,363,000 after acquiring an additional 169,211 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 2.4 %

Shares of NYSE ABBV opened at $171.32 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap of $302.75 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The business’s 50 day moving average is $177.47 and its two-hundred day moving average is $184.63.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 earnings per share. Research analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s payout ratio is 227.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup lowered their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Read Our Latest Report on AbbVie

AbbVie Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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