AbbVie Inc. (NYSE:ABBV) Shares Bought by Horizon Investments LLC

Horizon Investments LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,161 shares of the company’s stock after acquiring an additional 617 shares during the quarter. Horizon Investments LLC’s holdings in AbbVie were worth $3,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. lifted its stake in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC lifted its stake in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares in the last quarter. Avior Wealth Management LLC lifted its stake in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares in the last quarter. State Street Corp lifted its stake in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Finally, Sky Investment Group LLC lifted its stake in AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after buying an additional 3,936 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five equities 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by company insiders.

AbbVie Trading Down 0.3 %

Shares of ABBV stock opened at $213.80 on Wednesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. 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 business’s 50 day moving average is $192.47 and its two-hundred day moving average is $188.31. The company has a market cap of $377.43 billion, a PE ratio of 89.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced 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 period last year, the company posted $2.79 EPS. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.07%. AbbVie’s dividend payout ratio is 273.33%.

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.