Spinnaker Trust Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Spinnaker Trust raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,784 shares of the company’s stock after acquiring an additional 1,275 shares during the quarter. Spinnaker Trust’s holdings in AbbVie were worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report 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 report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.2 %

AbbVie stock opened at $193.00 on Friday. The company has a 50-day simple moving average of $178.59 and a 200-day simple moving average of $185.96. The firm has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. AbbVie’s dividend payout ratio is currently 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.