Global Retirement Partners LLC Purchases 6,769 Shares of AbbVie Inc. (NYSE:ABBV)

Global Retirement Partners LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,116 shares of the company’s stock after buying an additional 6,769 shares during the period. Global Retirement Partners LLC’s holdings in AbbVie were worth $15,481,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the period. FMR LLC boosted its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.8 %

Shares of AbbVie stock opened at $196.36 on Wednesday. The company has a 50-day simple moving average of $179.25 and a two-hundred day simple moving average of $186.06. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $347.00 billion, a PE ratio of 81.82, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.