Bay Capital Advisors LLC Purchases Shares of 3,128 AbbVie Inc. (NYSE:ABBV)

Bay Capital Advisors LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,128 shares of the company’s stock, valued at approximately $556,000.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $29,000. Promus Capital LLC purchased a new position in shares of AbbVie in the 4th quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’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 of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, 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 54,639 shares of company stock valued at $11,067,025 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABBV shares. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America boosted their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Down 0.4 %

NYSE:ABBV opened at $209.25 on Tuesday. The firm has a market capitalization of $369.40 billion, a PE ratio of 87.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50 day moving average of $195.14 and a 200-day moving average of $188.73.

AbbVie (NYSE:ABBV) last issued its 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 296.28% and a net margin of 7.59%. During the same period last year, the business earned $2.79 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 3.14%. AbbVie’s dividend payout ratio is presently 273.33%.

AbbVie 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.