Carlson Capital Management Buys 454 Shares of AbbVie Inc. (NYSE:ABBV)

Carlson Capital Management lifted its stake in AbbVie Inc. (NYSE:ABBV) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,029 shares of the company’s stock after acquiring an additional 454 shares during the quarter. Carlson Capital Management’s holdings in AbbVie were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ABBV. Clarity Wealth Development LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $218,000. Kensington Investment Counsel LLC grew its position in AbbVie by 4.3% during the fourth quarter. Kensington Investment Counsel LLC now owns 32,192 shares of the company’s stock valued at $5,721,000 after buying an additional 1,320 shares during the period. Retirement Planning Co of New England Inc. grew its position in AbbVie by 3.6% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 20,090 shares of the company’s stock valued at $3,570,000 after buying an additional 707 shares during the period. Mystic Asset Management Inc. grew its position in AbbVie by 37.1% during the fourth quarter. Mystic Asset Management Inc. now owns 21,323 shares of the company’s stock valued at $3,789,000 after buying an additional 5,770 shares during the period. Finally, Dopkins Wealth Management LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $204,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABBV shares. Truist Financial boosted 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. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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.

AbbVie Price Performance

ABBV stock opened at $214.45 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. 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 has a fifty day simple moving average of $191.78 and a two-hundred day simple moving average of $188.18. The firm has a market capitalization of $378.57 billion, a P/E ratio of 89.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS 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 business posted $2.79 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

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.