Premier Fund Managers Ltd Buys 10,516 Shares of AbbVie Inc. (NYSE:ABBV)

Premier Fund Managers Ltd raised its stake in AbbVie Inc. (NYSE:ABBV) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,481 shares of the company’s stock after purchasing an additional 10,516 shares during the quarter. Premier Fund Managers Ltd’s holdings in AbbVie were worth $10,175,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. grew its stake in AbbVie by 4.7% in the third quarter. Cherry Creek Investment Advisors Inc. now owns 26,838 shares of the company’s stock valued at $2,895,000 after purchasing an additional 1,215 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in AbbVie by 14.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 171,511 shares of the company’s stock valued at $19,319,000 after purchasing an additional 21,997 shares in the last quarter. S&T Bank PA boosted its stake in shares of AbbVie by 4.4% during the 2nd quarter. S&T Bank PA now owns 107,636 shares of the company’s stock worth $12,124,000 after acquiring an additional 4,487 shares during the period. Hedeker Wealth LLC boosted its stake in shares of AbbVie by 17.8% during the 3rd quarter. Hedeker Wealth LLC now owns 26,244 shares of the company’s stock worth $2,831,000 after acquiring an additional 3,966 shares during the period. Finally, Strategic Advisors LLC boosted its stake in shares of AbbVie by 23.3% during the 3rd quarter. Strategic Advisors LLC now owns 77,961 shares of the company’s stock worth $8,409,000 after acquiring an additional 14,712 shares during the period. Hedge funds and other institutional investors own 65.36% of the company’s stock.

In other AbbVie news, Vice Chairman Laura J. Schumacher sold 181,670 shares of the company’s stock in a transaction dated Friday, December 17th. The stock was sold at an average price of $130.24, for a total value of $23,660,700.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Durkin sold 11,790 shares of the company’s stock in a transaction dated Monday, December 20th. The stock was sold at an average price of $128.51, for a total value of $1,515,132.90. The disclosure for this sale can be found here. Insiders have sold a total of 478,364 shares of company stock valued at $59,793,977 in the last three months. 0.09% of the stock is owned by insiders.

NYSE ABBV traded down $0.01 during midday trading on Friday, hitting $133.51. The company had a trading volume of 184,598 shares, compared to its average volume of 6,523,579. The company has a market capitalization of $235.94 billion, a PE ratio of 31.79, a P/E/G ratio of 2.07 and a beta of 0.86. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 5.45. The firm has a 50-day moving average price of $125.40 and a 200-day moving average price of $117.43. AbbVie Inc. has a twelve month low of $101.81 and a twelve month high of $138.15.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.11. The firm had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $14.30 billion. AbbVie had a return on equity of 166.05% and a net margin of 13.66%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.83 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Friday, January 14th will be issued a dividend of $1.41 per share. The ex-dividend date is Thursday, January 13th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 4.22%. This is a boost from AbbVie’s previous quarterly dividend of $1.30. AbbVie’s payout ratio is 123.81%.

Several research analysts have recently commented on the company. Truist Securities lifted their target price on AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 24th. Truist lifted their target price on AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 24th. SVB Leerink reiterated a “buy” rating on shares of AbbVie in a research note on Tuesday, December 7th. Barclays lifted their target price on AbbVie from $112.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, November 1st. Finally, Piper Sandler boosted their price target on AbbVie from $129.00 to $160.00 in a research note on Monday, January 3rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $136.50.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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