AbbVie Inc. (NYSE:ABBV) Shares Purchased by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 65,696 shares of the company’s stock after acquiring an additional 1,584 shares during the quarter. Freestone Capital Holdings LLC’s holdings in AbbVie were worth $11,674,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms recently weighed in on ABBV. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Five investment 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 company’s 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 Stock Up 1.9 %

ABBV opened at $211.61 on Thursday. The business’s fifty day moving average is $186.27 and its two-hundred day moving average is $187.31. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $373.57 billion, a price-to-earnings ratio of 88.17, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66.

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 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 period in the previous year, the company earned $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.