Accredited Investors Inc. Has $1.44 Million Stake in AbbVie Inc. (NYSE:ABBV)

Accredited Investors Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,091 shares of the company’s stock after purchasing an additional 159 shares during the quarter. Accredited Investors Inc.’s holdings in AbbVie were worth $1,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Groupama Asset Managment boosted its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie in the fourth quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter worth $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. StockNews.com lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.71.

AbbVie Stock Up 1.0 %

Shares of AbbVie stock opened at $177.44 on Thursday. The company has a 50-day moving average of $200.79 and a 200 day moving average of $188.74. 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 firm has a market cap of $313.88 billion, a price-to-earnings ratio of 74.92, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted 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 period in the previous year, the firm earned $2.79 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.70%. AbbVie’s payout ratio is presently 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.