Zevin Asset Management LLC Purchases 6,668 Shares of AbbVie Inc. (NYSE:ABBV)

Zevin Asset Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,691 shares of the company’s stock after purchasing an additional 6,668 shares during the period. AbbVie comprises 2.2% of Zevin Asset Management LLC’s portfolio, making the stock its 17th biggest position. Zevin Asset Management LLC’s holdings in AbbVie were worth $14,694,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie in the 3rd quarter worth $999,000. Everence Capital Management Inc. raised its position in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% in the 4th 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 in the last quarter. Avior Wealth Management LLC raised its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares in the last quarter. Finally, State Street Corp grew its stake in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % 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 valued at $11,377,057. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

Shares of ABBV stock opened at $211.90 on Friday. The stock has a market cap of $374.07 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business has a 50-day simple moving average of $191.09 and a 200-day simple moving average of $188.16. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly 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 return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. AbbVie’s payout ratio is 273.33%.

About AbbVie

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.