Jag Capital Management LLC Purchases 1,744 Shares of AbbVie Inc. (NYSE:ABBV)

Jag Capital Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 145.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,942 shares of the company’s stock after buying an additional 1,744 shares during the quarter. Jag Capital Management LLC’s holdings in AbbVie were worth $523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GGM Financials LLC grew its position in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Dillon & Associates Inc. boosted its position in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares in the last quarter. WFA Asset Management Corp boosted its position in AbbVie by 0.8% during the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock valued at $1,383,000 after purchasing an additional 55 shares in the last quarter. Physicians Financial Services Inc. boosted its position in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Carr Financial Group Corp raised its stake in AbbVie by 1.1% in the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after buying an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.1 %

Shares of ABBV opened at $211.27 on Tuesday. 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 $185.08 and a 200 day moving average price of $187.04. The stock has a market capitalization of $372.97 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $212.30.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 period last year, the business posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 in the last quarter. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABBV shares. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.