Navalign LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Navalign LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,840 shares of the company’s stock after purchasing an additional 150 shares during the period. Navalign LLC’s holdings in AbbVie were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Polar Capital Holdings Plc increased its holdings in AbbVie by 11.6% in the second quarter. Polar Capital Holdings Plc now owns 358,872 shares of the company’s stock valued at $48,351,000 after buying an additional 37,368 shares during the last quarter. Altfest L J & Co. Inc. increased its position in AbbVie by 0.9% in the 3rd quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after acquiring an additional 215 shares during the period. Torray Investment Partners LLC raised its stake in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after acquiring an additional 2,446 shares in the last quarter. Retirement Planning Co of New England Inc. increased its holdings in shares of AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares during the period. Finally, Amplius Wealth Advisors LLC raised its position in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. BMO Capital Markets upped their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a report on Monday, December 11th. HSBC cut AbbVie from a “buy” rating to a “hold” rating and decreased their target price for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Finally, Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Buying and Selling

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.9 %

Shares of ABBV traded up $1.62 during mid-day trading on Thursday, hitting $181.97. 5,418,371 shares of the company’s stock were exchanged, compared to its average volume of 5,696,566. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a fifty day moving average of $174.51 and a two-hundred day moving average of $157.96. The stock has a market cap of $322.21 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

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.