AbbVie Inc. (NYSE:ABBV) Stake Lifted by Twin Capital Management Inc.

Twin Capital Management Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,852 shares of the company’s stock after acquiring an additional 3,214 shares during the quarter. AbbVie comprises about 0.8% of Twin Capital Management Inc.’s investment portfolio, making the stock its 20th largest holding. Twin Capital Management Inc.’s holdings in AbbVie were worth $7,082,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ABBV. Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. Raymond James Financial Inc. bought a new stake in AbbVie during the fourth quarter worth approximately $1,190,951,000. FMR LLC lifted its position in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 15.1% during the 4th 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 in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after purchasing an additional 3,373,156 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $186.58 on Monday. 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 Inc. has a one year low of $153.58 and a one year high of $218.66. The company’s fifty day moving average price is $200.61 and its 200 day moving average price is $189.18. The company has a market capitalization of $330.06 billion, a PE ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 period last year, the business posted $2.79 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.52%. AbbVie’s dividend payout ratio is 273.33%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ABBV shares. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Guggenheim upped their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie 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 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. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by company insiders.

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.