Hillsdale Investment Management Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Hillsdale Investment Management Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,628 shares of the company’s stock after buying an additional 230 shares during the period. Hillsdale Investment Management Inc.’s holdings in AbbVie were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, 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. Insiders sold 54,639 shares of company stock valued at $11,067,025 in the last 90 days. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.4 %

ABBV opened at $209.25 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a fifty day simple moving average of $195.14 and a 200-day simple moving average of $188.73. The firm has a market cap of $369.40 billion, a P/E ratio of 87.19, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm earned $2.79 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 issued 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 yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABBV shares. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler increased their target price 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. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.