Mizuho Securities USA LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Mizuho Securities USA LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,485 shares of the company’s stock after buying an additional 52,947 shares during the period. AbbVie makes up about 0.5% of Mizuho Securities USA LLC’s holdings, making the stock its 26th biggest position. Mizuho Securities USA LLC’s holdings in AbbVie were worth $29,762,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $29,000. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $35,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

NYSE ABBV opened at $209.98 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $370.68 billion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business’s 50-day moving average price is $194.49 and its 200 day moving average price is $188.73. AbbVie Inc. has a twelve month low of $153.58 and a twelve month 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 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 quarter last year, the business posted $2.79 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.12%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.