Commonwealth Retirement Investments LLC Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Commonwealth Retirement Investments LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,889 shares of the company’s stock after purchasing an additional 1,346 shares during the period. AbbVie makes up about 3.6% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 4th largest position. Commonwealth Retirement Investments LLC’s holdings in AbbVie were worth $8,688,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. AMF Tjanstepension AB bought a new stake in AbbVie in the third quarter worth $8,777,000. Swedbank AB increased its position in AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC increased its position in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares during the last quarter. Boston Trust Walden Corp boosted its stake in AbbVie by 1.1% during the third quarter. Boston Trust Walden Corp now owns 26,040 shares of the company’s stock worth $5,142,000 after buying an additional 284 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in AbbVie by 5.4% during the third quarter. GHP Investment Advisors Inc. now owns 6,115 shares of the company’s stock worth $1,208,000 after buying an additional 314 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $204.02 on Tuesday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market cap of $360.17 billion, a P/E ratio of 85.01, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The firm’s 50-day moving average price is $181.90 and its 200-day moving average price is $186.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company posted $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ABBV. Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.