Alpine Woods Capital Investors LLC Acquires 10,050 Shares of AbbVie Inc. (NYSE:ABBV)

Alpine Woods Capital Investors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 30.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,493 shares of the company’s stock after acquiring an additional 10,050 shares during the quarter. AbbVie accounts for 1.5% of Alpine Woods Capital Investors LLC’s portfolio, making the stock its 14th largest holding. Alpine Woods Capital Investors LLC’s holdings in AbbVie were worth $7,729,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC boosted its position in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. boosted its position in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Wealthstream Advisors Inc. boosted its position in shares of AbbVie by 3.0% in the third quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after acquiring an additional 56 shares during the period. Armstrong Advisory Group Inc. boosted its position in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after acquiring an additional 58 shares during the period. Finally, Canopy Partners LLC lifted its position in AbbVie by 1.4% in the third quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock worth $860,000 after purchasing an additional 59 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $211.19 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock 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 stock’s 50-day moving average price is $190.48 and its two-hundred day moving average price is $188.06.

AbbVie (NYSE:ABBV) last issued 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 period in the prior year, the firm posted $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 value of $310,032.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Five research 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, AbbVie has a consensus rating of “Moderate Buy” and an average price target 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.