1,208 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Signature Resources Capital Management LLC

Signature Resources Capital Management LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,208 shares of the company’s stock, valued at approximately $187,000.

Several other large investors have also added to or reduced their stakes in the business. Tectonic Advisors LLC lifted its stake in AbbVie by 10.4% in the third quarter. Tectonic Advisors LLC now owns 27,034 shares of the company’s stock valued at $4,030,000 after acquiring an additional 2,542 shares during the last quarter. FSC Wealth Advisors LLC lifted its stake in AbbVie by 5.3% in the third quarter. FSC Wealth Advisors LLC now owns 2,171 shares of the company’s stock valued at $324,000 after acquiring an additional 110 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in AbbVie by 8.9% in the third quarter. FinTrust Capital Advisors LLC now owns 11,716 shares of the company’s stock valued at $1,746,000 after acquiring an additional 958 shares during the last quarter. Raymond James & Associates lifted its stake in AbbVie by 2.1% in the third quarter. Raymond James & Associates now owns 4,430,353 shares of the company’s stock valued at $660,388,000 after acquiring an additional 92,342 shares during the last quarter. Finally, Clearwater Capital Advisors LLC lifted its stake in AbbVie by 3.9% in the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

NYSE:ABBV traded up $2.98 during mid-day trading on Friday, reaching $163.79. 5,850,102 shares of the company’s stock were exchanged, compared to its average volume of 5,457,836. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market capitalization of $290.01 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The business’s fifty day simple moving average is $173.13 and its two-hundred day simple moving average is $161.22. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 183.98%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

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.