Pathway Financial Advisors LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Pathway Financial Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,182 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Pathway Financial Advisors LLC’s holdings in AbbVie were worth $565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in shares of AbbVie during the third quarter valued at about $8,777,000. Creative Planning grew its stake in AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after acquiring an additional 40,925 shares in the last quarter. Swedbank AB increased its holdings in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after acquiring an additional 6,810 shares during the period. Howard Capital Management Group LLC boosted its holdings in AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of AbbVie by 5.7% during the 3rd quarter. Inspire Advisors LLC now owns 1,624 shares of the company’s stock valued at $321,000 after purchasing an additional 87 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV opened at $193.00 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $178.93 and its 200 day simple moving average is $186.03. The firm has a market cap of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

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 the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Finally, Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

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.