Alaska Permanent Fund Corp Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Alaska Permanent Fund Corp grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,794 shares of the company’s stock after buying an additional 511 shares during the period. Alaska Permanent Fund Corp’s holdings in AbbVie were worth $11,126,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after acquiring an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of AbbVie during the fourth quarter worth about $499,955,000. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AbbVie by 201.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after purchasing an additional 1,433,236 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted 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 acquiring an additional 1,130,638 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent analyst reports. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets lifted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Truist Financial lifted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 0.1 %

Shares of ABBV stock traded up $0.14 during trading hours on Thursday, hitting $167.94. 397,549 shares of the company were exchanged, compared to its average volume of 5,527,474. The business has a 50 day moving average of $175.13 and a two-hundred day moving average of $160.62. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market capitalization of $297.36 billion, a PE ratio of 61.72, a PEG ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the company posted $3.60 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is presently 227.11%.

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.