Boston Financial Mangement LLC Acquires 1,389 Shares of AbbVie Inc. (NYSE:ABBV)

Boston Financial Mangement LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,997 shares of the company’s stock after purchasing an additional 1,389 shares during the quarter. Boston Financial Mangement LLC’s holdings in AbbVie were worth $5,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at about $35,000. Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the third quarter worth about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $197.30 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock’s 50-day simple moving average is $179.67 and its 200-day simple moving average is $186.11. The company has a market capitalization of $348.66 billion, a price-to-earnings ratio of 82.21, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal 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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.