Van Cleef Asset Management Inc Purchases 100 Shares of AbbVie Inc. (NYSE:ABBV)

Van Cleef Asset Management Inc raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,755 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Van Cleef Asset Management Inc’s holdings in AbbVie were worth $1,202,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% during the 3rd 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 during the period. International Assets Investment Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $499,955,000. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 1,450,089 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of 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 acquiring an additional 1,433,236 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in AbbVie by 34.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after purchasing an additional 1,130,638 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three investment 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. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Down 0.3 %

NYSE ABBV traded down $0.52 during trading on Thursday, hitting $167.28. The company’s stock had a trading volume of 5,502,087 shares, compared to its average volume of 5,594,213. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market cap of $296.19 billion, a PE ratio of 61.28, a P/E/G ratio of 2.16 and a beta of 0.58. The business’s 50 day simple moving average is $175.13 and its 200-day simple moving average is $160.62. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s 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 in the company, 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 link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s 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 in the company, 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 link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s 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 $92,020,679.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

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.