Desjardins Global Asset Management Inc. Acquires 181 Shares of AbbVie Inc. (NYSE:ABBV)

Desjardins Global Asset Management Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,469 shares of the company’s stock after buying an additional 181 shares during the period. Desjardins Global Asset Management Inc.’s holdings in AbbVie were worth $2,242,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Altfest L J & Co. Inc. raised its position in shares of AbbVie by 0.9% in the 3rd quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the last quarter. Torray Investment Partners LLC raised its position in shares of AbbVie by 13.0% in the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after purchasing an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC raised its position in AbbVie by 17.6% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares during the last quarter. Finally, Synovus Financial Corp raised its position in AbbVie by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after buying an additional 6,139 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays upped their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Finally, BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

NYSE:ABBV opened at $162.54 on Wednesday. The stock’s fifty day moving average is $176.01 and its 200 day moving average is $159.91. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm has a market capitalization of $287.80 billion, a PE ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.12 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by 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.