Pinion Investment Advisors LLC Purchases 143 Shares of AbbVie Inc. (NYSE:ABBV)

Pinion Investment Advisors LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,206 shares of the company’s stock after buying an additional 143 shares during the quarter. Pinion Investment Advisors LLC’s holdings in AbbVie were worth $747,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABBV. Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. State Street Corp raised its holdings in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of AbbVie by 26,693.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after buying an additional 1,172,362 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new position in shares of AbbVie during the 4th quarter worth approximately $186,431,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 acquiring an additional 582,953 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.1 %

Shares of ABBV opened at $211.27 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a 50-day moving average price of $185.08 and a 200 day moving average price of $187.04. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $212.30. The firm has a market capitalization of $372.97 billion, a P/E ratio of 88.03, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the business posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABBV shares. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

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.