Integras Partners LLC Purchases New Stake in AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Integras Partners LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,748 shares of the company’s stock, valued at approximately $2,799,000. AbbVie comprises 2.4% of Integras Partners LLC’s holdings, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. lifted its position in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares in the last quarter. Wealthstream Advisors Inc. lifted its position in shares of AbbVie by 3.0% during the 3rd quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after buying an additional 56 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after buying an additional 58 shares in the last quarter. Finally, Canopy Partners LLC lifted its position in shares of AbbVie by 1.4% during the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after buying an additional 59 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.4 %

Shares of NYSE:ABBV opened at $211.19 on Friday. The business has a 50-day moving average price of $190.48 and a 200 day moving average price of $188.06. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $372.83 billion, a price-to-earnings ratio of 88.00, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 last year, the company earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABBV shares. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Read Our Latest Research Report on ABBV

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock valued at $11,377,057 in the last three months. 0.25% of the stock is owned by corporate insiders.

AbbVie 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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