CoreCap Advisors LLC Has $2.91 Million Holdings in AbbVie Inc. (NYSE:ABBV)

CoreCap Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,358 shares of the company’s stock after purchasing an additional 2,254 shares during the period. CoreCap Advisors LLC’s holdings in AbbVie were worth $2,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Crestline Management LP raised its stake in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP boosted its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Sky Investment Group LLC boosted its stake in AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group raised their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.41.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. Insiders own 0.08% of the company’s stock.

AbbVie Stock Up 0.4 %

ABBV opened at $187.87 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a fifty day moving average of $195.22 and a 200-day moving average of $187.27. The company has a market capitalization of $332.34 billion, a P/E ratio of 78.28, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.31 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.49%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.