Generali Asset Management SPA SGR Invests $19.29 Million in AbbVie Inc. (NYSE:ABBV)

Generali Asset Management SPA SGR acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 108,551 shares of the company’s stock, valued at approximately $19,290,000.

A number of other large investors have also recently made changes to their positions in the stock. Evoke Wealth LLC boosted its stake in shares of AbbVie by 12.8% during the 4th quarter. Evoke Wealth LLC now owns 22,482 shares of the company’s stock worth $3,995,000 after acquiring an additional 2,556 shares in the last quarter. Horizon Investments LLC raised its holdings in AbbVie by 3.0% in the 4th quarter. Horizon Investments LLC now owns 21,161 shares of the company’s stock valued at $3,725,000 after acquiring an additional 617 shares during the last quarter. Carlson Capital Management grew its stake in shares of AbbVie by 28.8% in the 4th quarter. Carlson Capital Management now owns 2,029 shares of the company’s stock valued at $361,000 after buying an additional 454 shares during the period. Clarity Wealth Development LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $218,000. Finally, Kensington Investment Counsel LLC grew its stake in shares of AbbVie by 4.3% in the 4th quarter. Kensington Investment Counsel LLC now owns 32,192 shares of the company’s stock valued at $5,721,000 after buying an additional 1,320 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm’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 transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Bank of America lifted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Up 1.3 %

Shares of NYSE:ABBV opened at $214.45 on Tuesday. The company has a market capitalization of $378.57 billion, a PE ratio of 89.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a fifty day moving average price of $191.78 and a two-hundred day moving average price of $188.18. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.06%. AbbVie’s payout ratio is currently 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.