Syon Capital LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Syon Capital LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 19.1% in the fourth quarter, HoldingsChannel reports. The firm owned 21,045 shares of the company’s stock after acquiring an additional 3,371 shares during the quarter. Syon Capital LLC’s holdings in AbbVie were worth $3,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC increased its holdings in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its holdings in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its position in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 2.1 %

Shares of ABBV opened at $173.72 on Wednesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $197.62 and a 200-day simple moving average of $187.44. The stock has a market cap of $307.31 billion, a price-to-earnings ratio of 72.38, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last released 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 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued 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 3.78%. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABBV shares. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 9th. Truist Financial raised their price objective 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. Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $211.19.

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.