Stokes Family Office LLC Purchases 3,057 Shares of AbbVie Inc. (NYSE:ABBV)

Stokes Family Office LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 12.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,092 shares of the company’s stock after purchasing an additional 3,057 shares during the quarter. Stokes Family Office LLC’s holdings in AbbVie were worth $4,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ABBV. Swedbank AB boosted its position in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC boosted its holdings in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares in the last quarter. United Bank bought a new stake in AbbVie in the third quarter worth $217,000. Finally, Thrivent Financial for Lutherans boosted its holdings in AbbVie by 23.6% in the third quarter. Thrivent Financial for Lutherans now owns 332,252 shares of the company’s stock worth $65,612,000 after acquiring an additional 63,474 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.3 %

AbbVie stock opened at $213.80 on Wednesday. The stock has a market cap of $377.43 billion, a PE ratio of 89.08, a price-to-earnings-growth 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. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The stock has a fifty day moving average of $192.47 and a 200 day moving average of $188.31.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS 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 296.28%. During the same period in the previous year, the firm posted $2.79 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $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 through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.