Townsquare Capital LLC Has $28.09 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Townsquare Capital LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,060 shares of the company’s stock after buying an additional 17,377 shares during the quarter. Townsquare Capital LLC’s holdings in AbbVie were worth $28,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.4 %

Shares of NYSE ABBV opened at $174.90 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company’s 50-day simple moving average is $200.16 and its 200-day simple moving average is $188.49. The firm has a market cap of $309.39 billion, a price-to-earnings ratio of 72.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $2.79 earnings per share. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 3.75%. AbbVie’s payout ratio is presently 273.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABBV shares. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday. Morgan Stanley upped their target price on shares of AbbVie from $239.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $210.71.

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.