AbbVie Inc. (NYSE:ABBV) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 41.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,171 shares of the company’s stock after acquiring an additional 15,550 shares during the quarter. AbbVie makes up approximately 0.6% of Everence Capital Management Inc.’s holdings, making the stock its 27th biggest holding. Everence Capital Management Inc.’s holdings in AbbVie were worth $9,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the 3rd quarter worth about $28,000. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter worth approximately $26,000. Marquette Asset Management LLC acquired a new position in AbbVie during the third quarter worth approximately $39,000. Mizuho Securities Co. Ltd. raised its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.6 %

Shares of NYSE:ABBV traded up $1.03 during midday trading on Friday, reaching $180.47. The company had a trading volume of 855,548 shares, compared to its average volume of 2,453,175. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $318.92 billion, a P/E ratio of 62.66, a PEG ratio of 1.92 and a beta of 0.58. The stock’s fifty day moving average price is $180.53 and its 200-day moving average price is $184.05.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABBV. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Citigroup reduced their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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 owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.