AIA Group Ltd Has $4.37 Million Stake in AbbVie Inc. (NYSE:ABBV)

AIA Group Ltd reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 33.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,614 shares of the company’s stock after selling 12,459 shares during the period. AIA Group Ltd’s holdings in AbbVie were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment boosted its stake 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 buying an additional 38,974 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at about $35,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.2 %

Shares of NYSE:ABBV opened at $205.12 on Monday. The business has a fifty day simple moving average of $197.50 and a 200 day simple moving average of $188.91. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market cap of $362.85 billion, a P/E ratio of 85.47, a P/E/G 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 (NYSE:ABBV) last posted its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business earned $2.79 earnings per share. Analysts predict 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 $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Finally, Citigroup upped their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Company Profile

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.