StoneX Group Inc. Purchases 15,271 Shares of AbbVie Inc. (NYSE:ABBV)

StoneX Group Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 46.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,991 shares of the company’s stock after buying an additional 15,271 shares during the quarter. StoneX Group Inc.’s holdings in AbbVie were worth $8,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% during 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 last quarter. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter valued at about $29,000. Promus Capital LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie during the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in AbbVie during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 over the last ninety days. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $209.83 on Tuesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market capitalization of $371.19 billion, a price-to-earnings ratio of 87.43, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company’s 50-day moving average is $198.27 and its 200 day moving average is $189.02.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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 in the prior year, the company posted $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 3.13%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Bank of America lifted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five investment 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’s stock. According to MarketBeat, the stock 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.