AbbVie Inc. (NYSE:ABBV) Position Raised by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,889 shares of the company’s stock after purchasing an additional 1,346 shares during the period. AbbVie comprises approximately 3.6% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 4th largest holding. Commonwealth Retirement Investments LLC’s holdings in AbbVie were worth $8,688,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ABBV. AMF Tjanstepension AB purchased a new position in shares of AbbVie during the 3rd quarter valued at approximately $8,777,000. Swedbank AB lifted its position in shares of AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC lifted its position in shares of AbbVie by 20.3% during the 3rd 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 in the last quarter. Boston Trust Walden Corp lifted its position in shares of AbbVie by 1.1% during the 3rd quarter. Boston Trust Walden Corp now owns 26,040 shares of the company’s stock valued at $5,142,000 after buying an additional 284 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of AbbVie by 5.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 6,115 shares of the company’s stock valued at $1,208,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABBV shares. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Wells Fargo & Company increased their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. 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. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Up 1.0 %

Shares of NYSE:ABBV opened at $204.02 on Tuesday. The business has a 50-day moving average price of $181.90 and a 200 day moving average price of $186.51. 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 company has a market capitalization of $360.17 billion, a price-to-earnings ratio of 85.01, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the company earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 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.