Enterprise Financial Services Corp Increases Position in AbbVie Inc. (NYSE:ABBV)

Enterprise Financial Services Corp increased its stake in AbbVie Inc. (NYSE:ABBV) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,501 shares of the company’s stock after purchasing an additional 77 shares during the quarter. AbbVie accounts for 1.1% of Enterprise Financial Services Corp’s investment portfolio, making the stock its 15th largest position. Enterprise Financial Services Corp’s holdings in AbbVie were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ABBV. Groupama Asset Managment increased its holdings in shares of AbbVie by 40.3% in the 3rd 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 acquired a new stake in AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.8 %

NYSE ABBV opened at $214.55 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. The company’s 50 day moving average price is $187.63 and its 200 day moving average price is $187.53. 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 firm has a market capitalization of $378.75 billion, a price-to-earnings ratio of 89.40, a PEG 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 EPS for the quarter, missing the consensus estimate 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 posted $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 annualized dividend and a yield of 3.06%. AbbVie’s payout ratio is 273.33%.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Bank of America raised their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on 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 sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company’s stock.

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.