Blue Fin Capital Inc. Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Blue Fin Capital Inc. lifted its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,239 shares of the company’s stock after purchasing an additional 817 shares during the quarter. Blue Fin Capital Inc.’s holdings in AbbVie were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ABBV. Bradley & Co. Private Wealth Management LLC raised its position in AbbVie by 80.6% in the 2nd quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock worth $27,000 after buying an additional 79 shares during the last quarter. Activest Wealth Management bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $31,000. Heritage Wealth Management LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $37,000. Goodman Advisory Group LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $53,000. Finally, Banco de Sabadell S.A purchased a new position in AbbVie in the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 42,370 shares of the firm’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $163.44, for a total value of $6,924,952.80. Following the transaction, the executive vice president now directly owns 13,837 shares of the company’s stock, valued at $2,261,519.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABBV. Credit Suisse Group began coverage on AbbVie in a report on Thursday, November 17th. They set an “outperform” rating and a $170.00 price objective on the stock. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating and dropped their price objective for the company from $155.00 to $140.00 in a research report on Tuesday, November 8th. Morgan Stanley raised their price objective on AbbVie from $178.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, December 6th. Piper Sandler increased their price target on AbbVie from $155.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, January 17th. Finally, Truist Financial lifted their target price on AbbVie from $160.00 to $180.00 in a report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $160.56.

AbbVie Stock Performance

ABBV opened at $149.59 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 3.77. The company has a market cap of $264.55 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 3.20 and a beta of 0.69. AbbVie Inc. has a 52-week low of $128.26 and a 52-week high of $175.91. The firm’s fifty day simple moving average is $159.64 and its two-hundred day simple moving average is $149.28.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.10. The business had revenue of $14.81 billion for the quarter, compared to the consensus estimate of $14.95 billion. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $3.33 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 13.89 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $1.48 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.41. This represents a $5.92 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, January 12th. AbbVie’s dividend payout ratio (DPR) is currently 79.04%.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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