Gables Capital Management Inc. Acquires 1,025 Shares of AbbVie Inc. (NYSE:ABBV)

Gables Capital Management Inc. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,688 shares of the company’s stock after purchasing an additional 1,025 shares during the quarter. Gables Capital Management Inc.’s holdings in AbbVie were worth $833,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ABBV. Swedbank AB boosted its position in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after acquiring an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC boosted its position in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after acquiring an additional 339 shares during the last quarter. Principal Financial Group Inc. boosted its position in AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after acquiring an additional 273,078 shares during the last quarter. United Bank bought a new stake in AbbVie during the third quarter valued at $217,000. Finally, Los Angeles Capital Management LLC boosted its position in AbbVie by 163.9% during the third quarter. Los Angeles Capital Management LLC now owns 615,498 shares of the company’s stock valued at $121,549,000 after acquiring an additional 382,242 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on ABBV shares. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Guggenheim upped their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup upped their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Trading Up 1.1 %

ABBV opened at $216.62 on Tuesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm has a market capitalization of $382.41 billion, a PE ratio of 90.26, a P/E/G ratio of 1.62 and a beta of 0.61. The company’s 50-day moving average is $188.44 and its 200 day moving average is $187.61.

AbbVie (NYSE:ABBV) last posted 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 previous year, the business posted $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.03%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.