AbbVie Inc. (NYSE:ABBV) Shares Acquired by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC increased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 36,943 shares of the company’s stock after buying an additional 1,146 shares during the period. AbbVie comprises approximately 3.0% of Eastover Investment Advisors LLC’s holdings, making the stock its 20th biggest position. Eastover Investment Advisors LLC’s holdings in AbbVie were worth $5,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Income Solutions Inc bought a new stake in AbbVie in the 1st quarter valued at about $204,000. Ergoteles LLC lifted its position in AbbVie by 17.8% in the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the last quarter. First Western Trust Bank bought a new stake in AbbVie in the 1st quarter valued at about $1,150,000. Wsfs Capital Management LLC bought a new stake in AbbVie in the 1st quarter valued at about $562,000. Finally, Bridgewater Associates LP lifted its position in AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $182.10 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market capitalization of $322.43 billion, a P/E ratio of 66.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58. The company’s 50 day moving average price is $174.89 and its two-hundred day moving average price is $158.13.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 earnings per share. On average, analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Four 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 company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Read Our Latest Stock Analysis on AbbVie

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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