AbbVie Inc. (NYSE:ABBV) Shares Acquired by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.0% during the fourth quarter, HoldingsChannel reports. The firm owned 39,324 shares of the company’s stock after purchasing an additional 5,713 shares during the quarter. AbbVie makes up about 1.3% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 13th largest position. Hudson Edge Investment Partners Inc.’s holdings in AbbVie were worth $6,988,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their price target on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

NYSE:ABBV opened at $202.03 on Friday. The company’s 50-day moving average price is $180.68 and its 200-day moving average price is $186.29. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. The company has a market cap of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $2.79 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Tuesday, April 15th. 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.