Lake Street Advisors Group LLC Has $10.94 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Lake Street Advisors Group LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 42.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,572 shares of the company’s stock after acquiring an additional 18,231 shares during the period. Lake Street Advisors Group LLC’s holdings in AbbVie were worth $10,941,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. FMR LLC lifted its stake in AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after purchasing an additional 373,802 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of AbbVie by 1.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,119,235 shares of the company’s stock worth $813,467,000 after buying an additional 38,854 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.1 %

NYSE:ABBV opened at $204.19 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $360.46 billion, a price-to-earnings ratio of 85.08, a PEG ratio of 1.62 and a beta of 0.58. The business’s 50-day moving average price is $182.48 and its two-hundred day moving average price is $186.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $2.79 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.35.

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.