New York Life Investment Management LLC Purchases 2,072 Shares of AbbVie Inc. (NYSE:ABBV)

New York Life Investment Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,257 shares of the company’s stock after acquiring an additional 2,072 shares during the quarter. New York Life Investment Management LLC’s holdings in AbbVie were worth $42,338,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Apriem Advisors grew its position in AbbVie by 7.1% in the 4th quarter. Apriem Advisors now owns 13,315 shares of the company’s stock worth $2,366,000 after purchasing an additional 881 shares during the last quarter. Lineweaver Wealth Advisors LLC grew its position in AbbVie by 21.2% in the 4th quarter. Lineweaver Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $2,668,000 after purchasing an additional 2,626 shares during the last quarter. Robeco Schweiz AG acquired a new stake in AbbVie in the 4th quarter worth $6,939,000. Nwam LLC grew its position in AbbVie by 2.3% in the 4th quarter. Nwam LLC now owns 20,746 shares of the company’s stock worth $3,687,000 after purchasing an additional 466 shares during the last quarter. Finally, GenTrust LLC grew its position in AbbVie by 13.8% in the 4th quarter. GenTrust LLC now owns 1,452 shares of the company’s stock worth $258,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $203.08 on Thursday. The firm has a market cap of $358.51 billion, a PE ratio of 84.62, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 company’s 50-day moving average price is $183.08 and its two-hundred day moving average price is $186.72.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 quarter last year, the business earned $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ABBV shares. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Raymond James restated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie 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.