International Assets Investment Management LLC Acquires Shares of 267,250 AbbVie Inc. (NYSE:ABBV)

International Assets Investment Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The firm purchased 267,250 shares of the company’s stock, valued at approximately $41,416,000.

A number of other large investors have also recently bought and sold shares of the stock. First Bank & Trust increased its position in shares of AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares in the last quarter. Hudock Inc. raised its stake in shares of AbbVie by 2.5% in the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after acquiring an additional 68 shares during the last quarter. Founders Capital Management LLC boosted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after acquiring an additional 70 shares in the last quarter. Gables Capital Management Inc. boosted its holdings in shares of AbbVie by 1.6% in the 3rd quarter. Gables Capital Management Inc. now owns 4,488 shares of the company’s stock worth $669,000 after acquiring an additional 70 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its position in AbbVie by 2.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 3,111 shares of the company’s stock worth $464,000 after acquiring an additional 73 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Insider Activity at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.9 %

Shares of AbbVie stock opened at $163.81 on Friday. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business has a fifty day simple moving average of $173.42 and a 200 day simple moving average of $161.10. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market cap of $290.05 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the business posted $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.