AbbVie Inc. (NYSE:ABBV) Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,356 shares of the company’s stock after purchasing an additional 111 shares during the period. Forte Capital LLC ADV’s holdings in AbbVie were worth $2,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ING Groep NV grew its position in shares of AbbVie by 78.7% during the 4th quarter. ING Groep NV now owns 598,335 shares of the company’s stock valued at $106,324,000 after acquiring an additional 263,557 shares during the period. O Brien Greene & Co. Inc grew its position in shares of AbbVie by 0.9% during the 4th quarter. O Brien Greene & Co. Inc now owns 10,964 shares of the company’s stock valued at $1,948,000 after acquiring an additional 99 shares during the period. Zullo Investment Group Inc. grew its position in shares of AbbVie by 1.8% during the 4th quarter. Zullo Investment Group Inc. now owns 5,214 shares of the company’s stock valued at $927,000 after acquiring an additional 94 shares during the period. Boston Financial Mangement LLC grew its position in shares of AbbVie by 4.4% during the 4th quarter. Boston Financial Mangement LLC now owns 32,997 shares of the company’s stock valued at $5,864,000 after acquiring an additional 1,389 shares during the period. Finally, First Bank & Trust grew its position in shares of AbbVie by 3.2% during the 4th quarter. First Bank & Trust now owns 17,188 shares of the company’s stock valued at $3,054,000 after acquiring an additional 534 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. BMO Capital Markets raised their price target 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. 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. Wells Fargo & Company raised their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 1.8 %

ABBV stock opened at $200.98 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm’s 50 day moving average price is $180.12 and its 200-day moving average price is $186.19. The firm has a market cap of $354.80 billion, a PE ratio of 83.74, a PEG ratio of 1.56 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the company posted $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The business 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 $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.

AbbVie 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.