Rakuten Securities Inc. Buys Shares of 370 AbbVie Inc. (NYSE:ABBV)

Rakuten Securities Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, Holdings Channel reports. The firm purchased 370 shares of the company’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aspen Wealth Strategies LLC lifted its stake in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the period. Avion Wealth lifted its position in AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the period. Goepper Burkhardt LLC boosted its holdings in AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the last quarter. First Bank & Trust grew its position in AbbVie by 0.4% in the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares during the period. Finally, Hudock Inc. raised its stake in AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after buying an additional 68 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised 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. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $164.24 on Thursday. The company has a 50 day simple moving average of $175.79 and a two-hundred day simple moving average of $159.94. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market cap of $290.81 billion, a P/E ratio of 60.16, a PEG ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 EPS. Equities analysts forecast that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.