AbbVie Inc. (NYSE:ABBV) Shares Purchased by TCTC Holdings LLC

TCTC Holdings LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 140,099 shares of the company’s stock after buying an additional 420 shares during the period. AbbVie comprises approximately 0.9% of TCTC Holdings LLC’s holdings, making the stock its 28th biggest position. TCTC Holdings LLC’s holdings in AbbVie were worth $24,896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC raised its stake in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. raised its stake in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Armstrong Advisory Group Inc. raised its stake in shares of AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after acquiring an additional 58 shares during the period. Canopy Partners LLC raised its stake in shares of AbbVie by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after acquiring an additional 59 shares during the period. Finally, Doliver Advisors LP raised its stake in shares of AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after acquiring an additional 59 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ABBV. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. BMO Capital Markets lifted their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Finally, 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 note on Friday, November 22nd. Five 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Price Performance

NYSE ABBV opened at $211.90 on Monday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. 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 stock has a market cap of $374.07 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a 50-day moving average price of $191.09 and a two-hundred day moving average price of $188.05.

AbbVie (NYSE:ABBV) last posted its 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

AbbVie Company 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.