Parkside Financial Bank & Trust Buys 3,698 Shares of AbbVie Inc. (NYSE:ABBV)

Parkside Financial Bank & Trust grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 31.9% during the fourth quarter, HoldingsChannel reports. The firm owned 15,298 shares of the company’s stock after purchasing an additional 3,698 shares during the quarter. Parkside Financial Bank & Trust’s holdings in AbbVie were worth $2,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after buying an additional 6,012,281 shares during the last quarter. International Assets Investment Management LLC bought a new position in AbbVie in the 4th quarter worth about $499,955,000. Vanguard Group Inc. grew its position in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in AbbVie by 201.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock valued at $332,242,000 after purchasing an additional 1,433,236 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in AbbVie by 34.6% in the third quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after buying an additional 1,130,638 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $0.74 during mid-day trading on Wednesday, reaching $168.80. The stock had a trading volume of 544,194 shares, compared to its average volume of 5,550,185. The firm has a market cap of $298.89 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business has a fifty day moving average of $175.26 and a 200 day moving average of $160.57. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the firm posted $3.60 EPS. The company’s revenue was down 5.4% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insider Activity

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred 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 sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Robert A. Michael sold 68,879 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.45, for a total value of $12,153,699.55. Following the completion of the sale, the chief operating officer now directly owns 98,645 shares of the company’s stock, valued at approximately $17,405,910.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’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 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 disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Company 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.