Rahlfs Capital LLC Makes New $1.34 Million Investment in AbbVie Inc. (NYSE:ABBV)

Rahlfs Capital LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,512 shares of the company’s stock, valued at approximately $1,335,000. AbbVie comprises about 1.2% of Rahlfs Capital LLC’s portfolio, making the stock its 21st largest position.

A number of other institutional investors have also made changes to their positions in ABBV. Norges Bank bought a new stake in AbbVie during the 4th quarter valued at approximately $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie in the 4th quarter valued at approximately $1,190,951,000. Charles Schwab Investment Management Inc. lifted its position in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Franklin Resources Inc. grew its holdings in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. Finally, Boston Partners raised its stake in shares of AbbVie by 35.9% in the fourth quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after purchasing an additional 1,503,875 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABBV shares. Raymond James restated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,471 shares of company stock worth $23,426,451. 0.08% of the stock is currently owned by company insiders.

AbbVie Stock Down 7.5 %

Shares of ABBV stock opened at $186.58 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The stock has a market cap of $330.06 billion, a price-to-earnings ratio of 77.74, a PEG ratio of 1.62 and a beta of 0.61. The firm’s 50-day moving average is $200.61 and its 200-day moving average is $189.24. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

About AbbVie

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.