Mainstream Capital Management LLC Purchases Shares of 314 AbbVie Inc. (NYSE:ABBV)

Mainstream Capital Management LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel reports. The firm acquired 314 shares of the company’s stock, valued at approximately $56,000.

A number of other large investors have also recently made changes to their positions in the business. Alley Investment Management Company LLC raised its holdings in shares of AbbVie by 2.6% during the fourth quarter. Alley Investment Management Company LLC now owns 117,798 shares of the company’s stock valued at $20,933,000 after acquiring an additional 2,951 shares in the last quarter. Ring Mountain Capital LLC purchased a new position in AbbVie during the 4th quarter valued at $321,000. Torray Investment Partners LLC raised its holdings in AbbVie by 42.2% in the 4th quarter. Torray Investment Partners LLC now owns 30,671 shares of the company’s stock worth $5,450,000 after purchasing an additional 9,107 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of AbbVie by 51.9% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 56,484 shares of the company’s stock worth $9,953,000 after purchasing an additional 19,291 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $48,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie 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 value 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 approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s 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 sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock worth $11,377,057 over the last quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $211.27 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $212.30. The business’s fifty day simple moving average is $185.08 and its two-hundred day simple moving average is $187.04. 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 cap of $372.97 billion, a price-to-earnings ratio of 88.03, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the firm earned $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABBV shares. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Wells Fargo & Company raised their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. 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 data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.

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.