AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,595 shares of the company’s stock after purchasing an additional 499 shares during the quarter. Midwest Professional Planners LTD.’s holdings in AbbVie were worth $2,416,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC bought a new stake in AbbVie during the third quarter valued at about $999,000. Everence Capital Management Inc. raised its position in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its position in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents 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 Timothy J. Richmond sold 29,917 shares of the company’s 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 sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4 %

Shares of ABBV opened at $211.19 on Friday. The firm’s 50-day simple moving average is $190.48 and its 200 day simple moving average is $188.06. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm has a market cap of $372.83 billion, a P/E ratio of 88.00, 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 (NYSE:ABBV) last announced its 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 quarter last year, the business posted $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. AbbVie’s payout ratio is presently 273.33%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Morgan Stanley raised their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie 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.