US Asset Management LLC Takes $1.05 Million Position in AbbVie Inc. (NYSE:ABBV)

US Asset Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,744 shares of the company’s stock, valued at approximately $1,045,000. AbbVie accounts for approximately 1.0% of US Asset Management LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. purchased a new position in AbbVie during the fourth quarter worth approximately $44,000. Blue Bell Private Wealth Management LLC lifted its position in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the third quarter valued at approximately $45,000. Bourgeon Capital Management LLC lifted its position in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares in the last quarter. Finally, Naples Money Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $53,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.4 %

NYSE ABBV traded up $0.65 on Friday, reaching $161.05. The company had a trading volume of 1,243,503 shares, compared to its average volume of 5,590,668. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The firm has a 50-day moving average of $171.83 and a 200-day moving average of $161.61. The firm has a market capitalization of $284.39 billion, a PE ratio of 47.73, a P/E/G ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the company posted $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.85%. AbbVie’s payout ratio is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In 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 company insiders.

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.