Bellecapital International Ltd. Acquires 4,631 Shares of AbbVie Inc. (NYSE:ABBV)

Bellecapital International Ltd. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 8.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 62,569 shares of the company’s stock after purchasing an additional 4,631 shares during the period. AbbVie makes up about 2.0% of Bellecapital International Ltd.’s portfolio, making the stock its 17th biggest position. Bellecapital International Ltd.’s holdings in AbbVie were worth $11,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB grew its position in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after acquiring an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC grew its position in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares during the last quarter. Lowe Brockenbrough & Co. Inc. grew its position in AbbVie by 15.9% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 31,274 shares of the company’s stock worth $6,176,000 after acquiring an additional 4,299 shares during the last quarter. Weatherly Asset Management L. P. grew its position in AbbVie by 13.0% during the 3rd quarter. Weatherly Asset Management L. P. now owns 10,010 shares of the company’s stock worth $1,977,000 after acquiring an additional 1,152 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in AbbVie by 18.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 23,263 shares of the company’s stock worth $4,594,000 after buying an additional 3,542 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ABBV. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Morgan Stanley lifted their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

Shares of ABBV opened at $209.07 on Friday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a 50 day moving average price of $184.42 and a two-hundred day moving average price of $186.95. The firm has a market capitalization of $369.09 billion, a P/E ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $209.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the business earned $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 over the last three months. Company insiders own 0.25% of the company’s stock.

AbbVie 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.