Lingohr Asset Management GmbH Invests $885,000 in AbbVie Inc. (NYSE:ABBV)

Lingohr Asset Management GmbH purchased a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,072 shares of the company’s stock, valued at approximately $885,000. AbbVie accounts for approximately 1.8% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment lifted its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter valued at approximately $29,000. Promus Capital LLC bought a new position in AbbVie in the 4th quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $31,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.8 %

Shares of AbbVie stock opened at $212.21 on Thursday. The company has a market capitalization of $374.62 billion, a P/E ratio of 88.42, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a fifty day moving average of $193.14 and a 200 day moving average of $188.48. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 company posted $2.79 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed 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. This represents a $6.56 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. 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 dated 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 of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. BMO Capital Markets boosted their target price 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. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Guggenheim boosted their target price 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 analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.