Next Capital Management LLC Acquires 333 Shares of AbbVie Inc. (NYSE:ABBV)

Next Capital Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,449 shares of the company’s stock after acquiring an additional 333 shares during the quarter. Next Capital Management LLC’s holdings in AbbVie were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Groupama Asset Managment increased its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $29,000. Promus Capital LLC bought a new position in AbbVie during the 4th quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $31,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley raised their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock worth $11,067,025. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $213.80 on Wednesday. The firm has a market cap of $377.43 billion, a PE ratio of 89.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm’s fifty day moving average is $192.47 and its 200-day moving average is $188.31. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the business posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.07%. AbbVie’s payout ratio is 273.33%.

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.