9,028 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,028 shares of the company’s stock, valued at approximately $1,604,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. State Street Corp raised its holdings in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Norges Bank purchased a new stake in AbbVie during the 4th quarter worth about $4,459,385,000. Finally, Amundi raised its stake in AbbVie by 9.4% in the 4th quarter. Amundi now owns 8,347,296 shares of the company’s stock valued at $1,489,992,000 after purchasing an additional 717,403 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group raised their target price 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. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Price Performance

NYSE ABBV opened at $205.12 on Friday. The company has a 50-day moving average price of $197.50 and a two-hundred day moving average price of $189.02. The stock has a market cap of $362.85 billion, a price-to-earnings ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.