Coldstream Capital Management Inc. Has $11.59 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Coldstream Capital Management Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,228 shares of the company’s stock after acquiring an additional 3,157 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AbbVie were worth $11,591,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC raised its holdings in shares of AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in shares of AbbVie by 1.0% during the 3rd quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock valued at $3,403,000 after buying an additional 171 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of AbbVie by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock valued at $1,494,000 after buying an additional 175 shares in the last quarter. Finally, Aldebaran Financial Inc. acquired a new position in AbbVie in the third quarter worth approximately $466,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 3.1 %

Shares of NYSE ABBV opened at $185.96 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company’s fifty day moving average is $196.85 and its 200-day moving average is $187.23. The stock has a market cap of $328.96 billion, a price-to-earnings ratio of 77.48, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.05). The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the firm posted $2.31 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ABBV shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.19.

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.