AbbVie Inc. (NYSE:ABBV) Stock Position Increased by Channing Capital Management LLC

Channing Capital Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,798 shares of the company’s stock after buying an additional 5,397 shares during the quarter. Channing Capital Management LLC’s holdings in AbbVie were worth $10,804,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Clare Market Investments LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $260,000. Grant Street Asset Management Inc. boosted its holdings in AbbVie by 63.3% during the fourth quarter. Grant Street Asset Management Inc. now owns 5,798 shares of the company’s stock worth $1,030,000 after buying an additional 2,247 shares in the last quarter. Vista Investment Partners II LLC acquired a new position in AbbVie in the fourth quarter worth approximately $415,000. Morton Community Bank grew its position in AbbVie by 1.3% in the fourth quarter. Morton Community Bank now owns 26,784 shares of the company’s stock worth $4,760,000 after buying an additional 349 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of AbbVie by 7.3% in the fourth quarter. Independent Advisor Alliance now owns 124,817 shares of the company’s stock valued at $22,180,000 after buying an additional 8,480 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie 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 transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, 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 worth $11,377,057 over the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.1 %

ABBV opened at $216.62 on Tuesday. The company has a market capitalization of $382.41 billion, a PE ratio of 90.26, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business has a 50-day moving average of $188.44 and a 200-day moving average of $187.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. 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 posted 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 quarter last year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price 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. Finally, Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.