Polymer Capital Management HK LTD Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Polymer Capital Management HK LTD acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,200 shares of the company’s stock, valued at approximately $1,102,000.

A number of other institutional investors have also recently made changes to their positions in ABBV. Federated Hermes Inc. increased its holdings in shares of AbbVie by 37.3% during the fourth quarter. Federated Hermes Inc. now owns 2,566,922 shares of the company’s stock valued at $456,142,000 after acquiring an additional 697,643 shares in the last quarter. Waterloo Capital L.P. increased its stake in AbbVie by 2.0% during the 4th quarter. Waterloo Capital L.P. now owns 15,375 shares of the company’s stock valued at $2,732,000 after purchasing an additional 307 shares in the last quarter. Titleist Asset Management LLC raised its holdings in shares of AbbVie by 24.8% in the fourth quarter. Titleist Asset Management LLC now owns 1,519 shares of the company’s stock worth $270,000 after buying an additional 302 shares during the last quarter. Darden Wealth Group Inc lifted its stake in shares of AbbVie by 2.1% during the fourth quarter. Darden Wealth Group Inc now owns 4,832 shares of the company’s stock worth $859,000 after buying an additional 100 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of AbbVie by 29.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 277,500 shares of the company’s stock valued at $49,312,000 after buying an additional 63,500 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Raymond James restated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Trading Down 7.5 %

Shares of NYSE:ABBV opened at $186.58 on Monday. The business’s 50 day moving average price is $200.61 and its 200-day moving average price is $189.18. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market capitalization of $330.06 billion, a price-to-earnings ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. 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 announced its earnings results 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 business posted $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.