AbbVie Inc. (NYSE:ABBV) Shares Purchased by RNC Capital Management LLC

RNC Capital Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 384,769 shares of the company’s stock after purchasing an additional 154 shares during the quarter. AbbVie accounts for about 3.6% of RNC Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. RNC Capital Management LLC’s holdings in AbbVie were worth $59,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Retirement Income Solutions Inc bought a new stake in AbbVie during the first quarter worth $204,000. Ergoteles LLC lifted its stake in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in AbbVie during the first quarter worth about $1,150,000. Wsfs Capital Management LLC bought a new position in AbbVie during the first quarter worth about $562,000. Finally, Bridgewater Associates LP increased its position in AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after acquiring an additional 33,661 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Perry C. Siatis sold 9,891 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $177.39, for a total transaction of $1,754,564.49. Following the completion of the transaction, the executive vice president now directly owns 10,397 shares in the company, valued at $1,844,323.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $180.35 on Thursday. The company has a market cap of $319.34 billion, a PE ratio of 66.06, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm’s 50-day simple moving average is $174.15 and its two-hundred day simple moving average is $157.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABBV shares. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Monday, December 11th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.