Vinva Investment Management Ltd Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Vinva Investment Management Ltd lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 92,133 shares of the company’s stock after acquiring an additional 1,498 shares during the quarter. AbbVie makes up about 0.6% of Vinva Investment Management Ltd’s holdings, making the stock its 29th largest holding. Vinva Investment Management Ltd’s holdings in AbbVie were worth $16,234,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $29,000. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. Piper Sandler increased their target price 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. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. 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 company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.3 %

ABBV opened at $213.80 on Wednesday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. 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 fifty day moving average of $192.47 and a two-hundred day moving average of $188.31. The stock has a market capitalization of $377.43 billion, a price-to-earnings ratio of 89.08, a PEG 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 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 in the previous year, the firm posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.07%. AbbVie’s dividend payout ratio is currently 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.