Hudson Canyon Capital Management Has $1.74 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Hudson Canyon Capital Management increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,800 shares of the company’s stock after buying an additional 1,150 shares during the quarter. Hudson Canyon Capital Management’s holdings in AbbVie were worth $1,741,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ABBV. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.2 %

NYSE ABBV opened at $193.00 on Tuesday. The company has a market cap of $341.05 billion, a PE ratio of 80.42, a PEG ratio of 1.53 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 stock has a 50 day moving average of $178.93 and a 200-day moving average of $186.04. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm posted $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. UBS Group upped their target price 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, Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.