Cravens & Co Advisors LLC Has $883,000 Stake in AbbVie Inc. (NYSE:ABBV)

Cravens & Co Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 4,969 shares of the company’s stock after acquiring an additional 107 shares during the period. Cravens & Co Advisors LLC’s holdings in AbbVie were worth $883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Quantbot Technologies LP increased its position in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares during the period. Everence Capital Management Inc. lifted its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Sky Investment Group LLC increased its position in AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after purchasing an additional 3,936 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock valued at $4,523,000 after purchasing an additional 3,654 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $176.84 on Wednesday. The stock has a market capitalization of $312.82 billion, a PE ratio of 73.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The stock’s 50 day moving average price is $199.59 and its 200-day moving average price is $188.27. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. 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 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 quarter in the prior year, the company earned $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley restated a “hold” rating on shares of AbbVie in a research note on Friday. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $210.71.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The sale 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 AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

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.