AGF Management Ltd. Acquires 242,337 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

AGF Management Ltd. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 31.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,009,491 shares of the company’s stock after buying an additional 242,337 shares during the quarter. AbbVie makes up 0.9% of AGF Management Ltd.’s investment portfolio, making the stock its 27th biggest position. AGF Management Ltd.’s holdings in AbbVie were worth $179,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $71,000. Avantax Planning Partners Inc. raised its position in shares of AbbVie by 2.5% in the 4th quarter. Avantax Planning Partners Inc. now owns 60,324 shares of the company’s stock worth $10,720,000 after acquiring an additional 1,453 shares in the last quarter. Gables Capital Management Inc. raised its position in shares of AbbVie by 28.0% in the 4th quarter. Gables Capital Management Inc. now owns 4,688 shares of the company’s stock worth $833,000 after acquiring an additional 1,025 shares in the last quarter. Miller Financial Services LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $245,000. Finally, Sollinda Capital Management LLC raised its position in shares of AbbVie by 4.1% in the 4th quarter. Sollinda Capital Management LLC now owns 3,131 shares of the company’s stock worth $556,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Raymond James restated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Read Our Latest Analysis on ABBV

AbbVie Stock Up 1.1 %

Shares of NYSE ABBV opened at $216.62 on Tuesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market capitalization of $382.41 billion, a price-to-earnings ratio of 90.26, a PEG ratio of 1.62 and a beta of 0.61. The stock has a 50 day moving average price of $188.44 and a 200 day moving average price of $187.61. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.03%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 in the last ninety days. Company insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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