Y Intercept Hong Kong Ltd Takes $876,000 Position in AbbVie Inc. (NYSE:ABBV)

Y Intercept Hong Kong Ltd purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,929 shares of the company’s stock, valued at approximately $876,000.

Other hedge funds have also bought and sold shares of the company. Black Diamond Financial LLC boosted its stake in shares of AbbVie by 42.1% in the 4th quarter. Black Diamond Financial LLC now owns 2,246 shares of the company’s stock valued at $399,000 after purchasing an additional 665 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of AbbVie by 3.2% in the 4th quarter. South Dakota Investment Council now owns 29,071 shares of the company’s stock valued at $5,166,000 after purchasing an additional 900 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $127,000. World Equity Group Inc. boosted its stake in shares of AbbVie by 34.1% in the 4th quarter. World Equity Group Inc. now owns 10,325 shares of the company’s stock valued at $1,835,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in shares of AbbVie by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 59,842 shares of the company’s stock valued at $10,634,000 after purchasing an additional 581 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABBV shares. 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. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $205.06 on Friday. The company’s 50-day moving average is $183.75 and its 200 day moving average is $186.85. 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 capitalization of $362.00 billion, a P/E ratio of 85.44, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter in the previous year, the company earned $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

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.