AbbVie Inc. (NYSE:ABBV) Shares Purchased by CFO4Life Group LLC

CFO4Life Group LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,197 shares of the company’s stock after buying an additional 212 shares during the period. CFO4Life Group LLC’s holdings in AbbVie were worth $568,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $1,190,951,000. Charles Schwab Investment Management Inc. grew its stake in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. State Street Corp grew its stake in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of AbbVie by 26,693.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after purchasing an additional 1,172,362 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of AbbVie in the 4th quarter worth approximately $186,431,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $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 sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABBV shares. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Piper Sandler raised 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. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Price Performance

NYSE:ABBV opened at $211.80 on Thursday. The stock has a market cap of $373.91 billion, a P/E ratio of 88.25, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a fifty day moving average price of $189.84 and a 200 day moving average price of $187.89. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the firm earned $2.79 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 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.