AbbVie Inc. (NYSE:ABBV) Shares Bought by Sunpointe LLC

Sunpointe LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,401 shares of the company’s stock after buying an additional 1,013 shares during the quarter. Sunpointe LLC’s holdings in AbbVie were worth $782,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the fourth quarter valued at $35,000. Mizuho Securities Co. Ltd. raised its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the 3rd quarter worth about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Guggenheim raised 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. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Up 0.5 %

Shares of NYSE:ABBV opened at $197.30 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm’s 50-day simple moving average is $179.67 and its 200-day simple moving average is $186.11. The company has a market cap of $348.66 billion, a price-to-earnings ratio of 82.21, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 257.91%. During the same period in the previous year, the business posted $2.79 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

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.