Mystic Asset Management Inc. Has $3.79 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Mystic Asset Management Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 37.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,323 shares of the company’s stock after purchasing an additional 5,770 shares during the period. AbbVie accounts for approximately 1.0% of Mystic Asset Management Inc.’s portfolio, making the stock its 26th largest position. Mystic Asset Management Inc.’s holdings in AbbVie were worth $3,789,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at about $29,000. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $35,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 over the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 1.3 %

Shares of NYSE:ABBV opened at $214.45 on Tuesday. 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 firm has a market cap of $378.57 billion, a P/E ratio of 89.35, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company’s 50-day moving average price is $191.78 and its two-hundred day moving average price is $188.18.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 firm earned $2.79 EPS. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.06%. AbbVie’s payout ratio is currently 273.33%.

Analysts Set New Price Targets

A number of research analysts recently commented on ABBV shares. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Guggenheim lifted their target price 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. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note 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 given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.