Integras Partners LLC Makes New $2.80 Million Investment in AbbVie Inc. (NYSE:ABBV)

Integras Partners LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,748 shares of the company’s stock, valued at approximately $2,799,000. AbbVie comprises approximately 2.4% of Integras Partners LLC’s holdings, making the stock its 13th largest position.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $1,190,951,000. Charles Schwab Investment Management Inc. raised its holdings in shares of AbbVie by 15.1% in 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 purchasing an additional 3,599,336 shares during the last quarter. State Street Corp grew its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the period. Proficio Capital Partners LLC grew its position in AbbVie by 26,693.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after buying an additional 1,172,362 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new position in AbbVie during the fourth quarter valued at about $186,431,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the 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 transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated 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 directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

ABBV stock opened at $211.19 on Friday. The firm has a 50 day moving average of $190.48 and a 200-day moving average of $188.06. 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 12 month low of $153.58 and a 12 month high of $218.66. The firm has a market capitalization of $372.83 billion, a P/E ratio of 88.00, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company earned $2.79 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.11%. 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.