AbbVie Inc. (NYSE:ABBV) Shares Acquired by Everstar Asset Management LLC

Everstar Asset Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,728 shares of the company’s stock after acquiring an additional 444 shares during the period. Everstar Asset Management LLC’s holdings in AbbVie were worth $485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. Promus Capital LLC purchased a new stake in AbbVie during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $35,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, 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 $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s 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 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. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 over the last quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

ABBV opened at $205.12 on Monday. The firm has a market cap of $362.85 billion, a P/E ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. The business’s fifty day simple moving average is $197.50 and its 200 day simple moving average is $188.91. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm 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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Piper Sandler boosted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.45.

About AbbVie

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.