Pine Valley Investments Ltd Liability Co Acquires 22,052 Shares of AbbVie Inc. (NYSE:ABBV)

Pine Valley Investments Ltd Liability Co grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 36.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,839 shares of the company’s stock after buying an additional 22,052 shares during the period. AbbVie makes up 0.9% of Pine Valley Investments Ltd Liability Co’s investment portfolio, making the stock its 20th largest holding. Pine Valley Investments Ltd Liability Co’s holdings in AbbVie were worth $14,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. State Street Corp raised its position in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. Saturna Capital Corp raised its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. FMR LLC raised its position in shares of AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of AbbVie by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 2,993,734 shares of the company’s stock worth $528,993,000 after purchasing an additional 483,455 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.0 %

Shares of AbbVie stock opened at $204.02 on Tuesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market cap of $360.17 billion, a PE ratio of 85.01, a P/E/G ratio of 1.62 and a beta of 0.58. The stock has a fifty day moving average price of $181.90 and a 200-day moving average price of $186.51. 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 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 period in the prior year, the company posted $2.79 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current 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 dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. AbbVie’s payout ratio is 273.33%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABBV. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five 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. According to data from MarketBeat, the company 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.