Jackson Hole Capital Partners LLC Acquires 1,797 Shares of AbbVie Inc. (NYSE:ABBV)

Jackson Hole Capital Partners LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 5.3% during the fourth quarter, Holdings Channel reports. The fund owned 35,947 shares of the company’s stock after acquiring an additional 1,797 shares during the period. AbbVie comprises approximately 1.3% of Jackson Hole Capital Partners LLC’s investment portfolio, making the stock its 17th biggest position. Jackson Hole Capital Partners LLC’s holdings in AbbVie were worth $6,388,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp lifted 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 valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. FMR LLC lifted its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AbbVie by 6.1% in 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 period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $214.55 on Friday. The company has a market capitalization of $378.75 billion, a price-to-earnings ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $215.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a 50 day moving average of $187.63 and a 200 day moving average of $187.53.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 company posted $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABBV. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.