AbbVie Inc. (NYSE:ABBV) Shares Acquired by Maple Capital Management Inc.

Maple Capital Management Inc. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 27.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,337 shares of the company’s stock after acquiring an additional 497 shares during the quarter. Maple Capital Management Inc.’s holdings in AbbVie were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. SVB Wealth LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $45,763,000. Flputnam Investment Management Co. increased its stake in AbbVie by 0.3% in the 4th quarter. Flputnam Investment Management Co. now owns 148,164 shares of the company’s stock valued at $26,329,000 after buying an additional 472 shares during the period. Illumine Investment Management LLC acquired a new position in AbbVie in the 4th quarter valued at $305,000. Tufton Capital Management increased its stake in AbbVie by 0.5% in the 4th quarter. Tufton Capital Management now owns 58,163 shares of the company’s stock valued at $10,336,000 after buying an additional 286 shares during the period. Finally, Dynasty Wealth Management LLC increased its stake in AbbVie by 66.3% in the 4th quarter. Dynasty Wealth Management LLC now owns 13,475 shares of the company’s stock valued at $2,395,000 after buying an additional 5,371 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Daiwa America cut shares of 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $209.07 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $209.60. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm’s 50-day simple moving average is $184.42 and its 200 day simple moving average is $186.98. The firm has a market capitalization of $369.09 billion, a PE ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the business earned $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.