Paradigm Asset Management Co. LLC Acquires 2,200 Shares of AbbVie Inc. (NYSE:ABBV)

Paradigm Asset Management Co. LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 18.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,400 shares of the company’s stock after purchasing an additional 2,200 shares during the period. AbbVie comprises approximately 0.7% of Paradigm Asset Management Co. LLC’s holdings, making the stock its 28th biggest holding. Paradigm Asset Management Co. LLC’s holdings in AbbVie were worth $2,559,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Groupama Asset Managment lifted its position in 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 buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

NYSE ABBV opened at $200.98 on Friday. The business has a 50 day simple moving average of $180.12 and a 200 day simple moving average of $186.19. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $354.80 billion, a price-to-earnings ratio of 83.74, a PEG ratio of 1.56 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted 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 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 EPS. Analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. AbbVie’s payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Daiwa Capital Markets cut 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. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.