Enhancing Capital LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Enhancing Capital LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the company’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth $29,000. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.3 %

Shares of NYSE:ABBV opened at $213.80 on Wednesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a market capitalization of $377.43 billion, a PE ratio of 89.08, a PEG ratio of 1.62 and a beta of 0.61. The business has a 50 day moving average of $192.47 and a two-hundred day moving average of $188.31. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced 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 net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the company earned $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABBV. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley boosted their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’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 transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’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 transaction, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by company insiders.

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.