Union Bancaire Privee UBP SA Invests $127,000 in AbbVie Inc. (NYSE:ABBV)

Union Bancaire Privee UBP SA purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 748 shares of the company’s stock, valued at approximately $127,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. World Equity Group Inc. boosted its stake in AbbVie by 34.1% during the fourth quarter. World Equity Group Inc. now owns 10,325 shares of the company’s stock valued at $1,835,000 after buying an additional 2,625 shares during the period. Ascent Wealth Partners LLC raised its holdings in shares of AbbVie by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 59,842 shares of the company’s stock valued at $10,634,000 after acquiring an additional 581 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of AbbVie by 9.4% during the 4th quarter. MONECO Advisors LLC now owns 15,856 shares of the company’s stock valued at $2,818,000 after acquiring an additional 1,362 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of AbbVie by 2.9% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 6,745 shares of the company’s stock worth $1,199,000 after purchasing an additional 190 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its position in shares of AbbVie by 1.4% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,267 shares of the company’s stock worth $3,068,000 after purchasing an additional 230 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV opened at $204.19 on Wednesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s 50 day moving average price is $182.48 and its 200-day moving average price is $186.61. The stock has a market capitalization of $360.46 billion, a PE ratio of 85.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results 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 296.28% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABBV. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. 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.