Concurrent Investment Advisors LLC Buys 4,980 Shares of AbbVie Inc. (NYSE:ABBV)

Concurrent Investment Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 7.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 74,113 shares of the company’s stock after acquiring an additional 4,980 shares during the period. Concurrent Investment Advisors LLC’s holdings in AbbVie were worth $13,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABBV. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler increased their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5 %

Shares of AbbVie stock opened at $197.30 on Thursday. The company’s fifty day simple moving average is $179.67 and its 200-day simple moving average is $186.11. The stock has a market capitalization of $348.66 billion, a PE ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 firm posted $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.32 earnings per share 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 3.32%. AbbVie’s payout ratio is 273.33%.

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.