Gill Capital Partners LLC Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Gill Capital Partners LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 67.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,741 shares of the company’s stock after acquiring an additional 701 shares during the period. Gill Capital Partners LLC’s holdings in AbbVie were worth $309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Sei Investments Co. raised its holdings in AbbVie by 11.2% in the 2nd quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock valued at $83,064,000 after acquiring an additional 48,722 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of AbbVie by 16.6% in the second quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock valued at $3,526,000 after purchasing an additional 2,924 shares during the last quarter. TPG Advisors LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $366,000. Tcwp LLC lifted its position in AbbVie by 12.0% during the second quarter. Tcwp LLC now owns 2,936 shares of the company’s stock worth $504,000 after buying an additional 315 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in AbbVie by 1.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock valued at $1,952,000 after buying an additional 130 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $171.49 on Friday. The business has a 50-day simple moving average of $175.78 and a 200-day simple moving average of $184.60. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a market cap of $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABBV shares. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Finally, Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.