AbbVie Inc. (NYSE:ABBV) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 44.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,535 shares of the company’s stock after acquiring an additional 8,194 shares during the period. E Fund Management Co. Ltd.’s holdings in AbbVie were worth $4,715,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC lifted its stake in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares during the last quarter. Maia Wealth LLC boosted its holdings in shares of AbbVie by 5.0% during the third quarter. Maia Wealth LLC now owns 2,961 shares of the company’s stock valued at $562,000 after acquiring an additional 142 shares during the period. Prudent Investors Network Inc. grew its position in shares of AbbVie by 12.6% during the third quarter. Prudent Investors Network Inc. now owns 6,680 shares of the company’s stock worth $1,319,000 after acquiring an additional 750 shares during the last quarter. Finally, Graypoint LLC increased its holdings in shares of AbbVie by 10.9% in the 3rd quarter. Graypoint LLC now owns 17,520 shares of the company’s stock worth $3,460,000 after acquiring an additional 1,720 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.4 %

Shares of ABBV opened at $210.71 on Friday. 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 $215.66. The stock has a market capitalization of $371.98 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.62 and a beta of 0.58. The business’s 50-day moving average price is $186.90 and its 200 day moving average price is $187.47.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.11%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Guggenheim lifted 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. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.