Runnymede Capital Advisors Inc. Purchases Shares of 3,500 AbbVie Inc. (NYSE:ABBV)

Runnymede Capital Advisors Inc. purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $622,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth about $29,000. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in AbbVie during the 4th quarter valued at about $35,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.9 %

Shares of NYSE:ABBV opened at $209.98 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a 50 day moving average of $194.49 and a 200-day moving average of $188.73. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market cap of $370.68 billion, a price-to-earnings ratio of 87.49, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on 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 transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in the last 90 days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average 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.