AbbVie Inc. (NYSE:ABBV) Holdings Boosted by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,374 shares of the company’s stock after purchasing an additional 2,974 shares during the period. AbbVie comprises about 2.2% of Van Hulzen Asset Management LLC’s holdings, making the stock its 5th largest position. Van Hulzen Asset Management LLC’s holdings in AbbVie were worth $30,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Altus Wealth Group LLC increased its position in AbbVie by 4.1% during the fourth quarter. Altus Wealth Group LLC now owns 3,764 shares of the company’s stock worth $669,000 after buying an additional 148 shares during the period. Glenview Trust co increased its holdings in shares of AbbVie by 0.3% in the 4th quarter. Glenview Trust co now owns 411,135 shares of the company’s stock valued at $73,059,000 after acquiring an additional 1,314 shares during the period. Sovereign Investment Advisors LLC purchased a new stake in AbbVie in the 4th quarter valued at $573,000. Harbour Investments Inc. boosted its stake in AbbVie by 3.5% during the 4th quarter. Harbour Investments Inc. now owns 22,958 shares of the company’s stock worth $4,080,000 after purchasing an additional 780 shares during the period. Finally, Corient Private Wealth LLC grew its position in AbbVie by 2.5% during the 4th quarter. Corient Private Wealth LLC now owns 2,333,915 shares of the company’s stock worth $414,002,000 after purchasing an additional 56,369 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.2 %

ABBV opened at $211.90 on Friday. 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 market cap of $374.07 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The business’s fifty day moving average is $191.09 and its two-hundred day moving average is $188.10.

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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid 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 dividend yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. 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. Bank of America upped their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.