AbbVie Inc. (NYSE:ABBV) is Borer Denton & Associates Inc.’s 7th Largest Position

Borer Denton & Associates Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,234 shares of the company’s stock after purchasing an additional 920 shares during the period. AbbVie comprises 3.7% of Borer Denton & Associates Inc.’s portfolio, making the stock its 7th largest holding. Borer Denton & Associates Inc.’s holdings in AbbVie were worth $10,526,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Groupama Asset Managment lifted its position in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new position in AbbVie during the 4th quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV stock opened at $201.12 on Wednesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day moving average price of $195.65 and a 200-day moving average price of $188.78. The firm has a market cap of $355.05 billion, a PE ratio of 83.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 prior year, the firm earned $2.79 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABBV. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley lifted their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Bank of America lifted their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $1,143,466.20. Following the transaction, the executive vice president now directly 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. Over the last quarter, insiders have sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company’s stock.

AbbVie 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.