AbbVie Inc. (NYSE:ABBV) Stake Lifted by TBH Global Asset Management LLC

TBH Global Asset Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,474 shares of the company’s stock after buying an additional 399 shares during the quarter. TBH Global Asset Management LLC’s holdings in AbbVie were worth $1,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Citigroup lifted their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Up 0.5 %

NYSE:ABBV opened at $197.30 on Thursday. The company’s 50 day moving average is $179.67 and its 200-day moving average is $186.11. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market cap of $348.66 billion, a price-to-earnings ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the company posted $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. AbbVie’s dividend payout ratio is presently 273.33%.

About AbbVie

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.