Headlands Technologies LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Headlands Technologies LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,370 shares of the company’s stock, valued at approximately $522,000.

Several other large investors have also made changes to their positions in ABBV. DeDora Capital Inc. raised its stake in shares of AbbVie by 5.0% in the third quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock valued at $2,803,000 after purchasing an additional 898 shares in the last quarter. Goldstein Advisors LLC raised its stake in shares of AbbVie by 11.9% in the third quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock valued at $722,000 after purchasing an additional 514 shares in the last quarter. SS&H Financial Advisors Inc. acquired a new position in shares of AbbVie in the third quarter valued at $7,748,000. Next Capital Management LLC acquired a new position in shares of AbbVie in the third quarter valued at $261,000. Finally, Opal Wealth Advisors LLC raised its stake in shares of AbbVie by 1.2% in the third quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock valued at $1,012,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 4.6 %

Shares of AbbVie stock traded down $7.67 on Friday, hitting $159.62. 10,721,740 shares of the company’s stock traded hands, compared to its average volume of 5,004,945. The company has a fifty day moving average of $174.59 and a two-hundred day moving average of $160.74. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Analysts Set New Price Targets

Several research firms have issued reports on ABBV. Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

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.