AbbVie Inc. (NYSE:ABBV) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,436 shares of the company’s stock after purchasing an additional 15,690 shares during the quarter. UniSuper Management Pty Ltd’s holdings in AbbVie were worth $17,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Moment Partners LLC purchased a new position in shares of AbbVie during the fourth quarter worth $1,027,000. Sava Infond d.o.o. purchased a new position in AbbVie during the 4th quarter valued at about $1,886,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in AbbVie by 9.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,848,490 shares of the company’s stock valued at $516,203,000 after acquiring an additional 242,366 shares during the period. Tyler Stone Wealth Management grew its position in AbbVie by 2.2% in the 4th quarter. Tyler Stone Wealth Management now owns 4,566 shares of the company’s stock valued at $811,000 after acquiring an additional 97 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in AbbVie during the fourth quarter worth about $1,653,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABBV shares. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Piper Sandler boosted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Up 0.7 %

Shares of NYSE ABBV opened at $202.79 on Friday. The business has a 50-day moving average price of $196.83 and a 200 day moving average price of $188.96. The stock has a market cap of $357.99 billion, a PE ratio of 84.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the company earned $2.79 earnings per share. Equities research 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. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.23%. AbbVie’s payout ratio is 273.33%.

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.