15,500 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Colrain Capital LLC

Colrain Capital LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 15,500 shares of the company’s stock, valued at approximately $2,754,000. AbbVie comprises 2.7% of Colrain Capital LLC’s holdings, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Financial LLC boosted its position in shares of AbbVie by 19.1% in the fourth quarter. Summit Financial LLC now owns 47,745 shares of the company’s stock valued at $8,484,000 after acquiring an additional 7,664 shares during the period. Hoey Investments Inc. raised its stake in AbbVie by 15.8% during the 4th quarter. Hoey Investments Inc. now owns 3,920 shares of the company’s stock valued at $697,000 after purchasing an additional 536 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in AbbVie by 1.0% in the 4th quarter. Alliancebernstein L.P. now owns 4,974,631 shares of the company’s stock valued at $883,992,000 after purchasing an additional 50,243 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter worth $32,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of AbbVie during the 4th quarter worth about $144,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABBV. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Five equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, 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 the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV opened at $205.12 on Monday. The firm’s fifty day simple moving average is $197.50 and its two-hundred day simple moving average is $188.91. AbbVie Inc. has a 12 month low of $153.58 and a 12 month 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 market capitalization of $362.85 billion, a P/E ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced 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 quarter last year, the business posted $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. 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.