MV Capital Management Inc. Increases Position in AbbVie Inc. (NYSE:ABBV)

MV Capital Management Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 266,684 shares of the company’s stock after purchasing an additional 81 shares during the quarter. AbbVie comprises 5.1% of MV Capital Management Inc.’s portfolio, making the stock its 4th largest holding. MV Capital Management Inc.’s holdings in AbbVie were worth $47,390,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Everence Capital Management Inc. boosted 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 holdings in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the last quarter. State Street Corp lifted its holdings in AbbVie by 1.6% in the 3rd 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 last quarter. Sky Investment Group LLC boosted its position in shares of AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after purchasing an additional 3,936 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares during the last quarter. 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 AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated 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 owns 44,284 shares of the company’s stock, 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. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Morgan Stanley raised their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Performance

ABBV stock opened at $205.12 on Friday. The company has a market capitalization of $362.85 billion, a price-to-earnings ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. The firm has a 50 day moving average of $197.50 and a two-hundred day moving average of $189.02. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

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 last year, the company earned $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.20%. 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.