Torray Investment Partners LLC Acquires 9,107 Shares of AbbVie Inc. (NYSE:ABBV)

Torray Investment Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 42.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,671 shares of the company’s stock after purchasing an additional 9,107 shares during the quarter. Torray Investment Partners LLC’s holdings in AbbVie were worth $5,450,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its stake in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. FMR LLC grew its stake in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of AbbVie stock opened at $211.27 on Tuesday. AbbVie Inc. has a one year low of $153.58 and a one year high of $212.30. 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 market cap of $372.97 billion, a P/E ratio of 88.03, a P/E/G ratio of 1.62 and a beta of 0.58. The stock’s fifty day moving average is $185.08 and its 200 day moving average is $187.04.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 previous year, the business posted $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the 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 completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock worth $11,377,057 in the last quarter. 0.25% of the stock is owned by corporate insiders.

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.