19,993 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Generali Investments Management Co LLC

Generali Investments Management Co LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,993 shares of the company’s stock, valued at approximately $3,553,000. AbbVie accounts for approximately 0.9% of Generali Investments Management Co LLC’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds have also recently made changes to their positions in ABBV. Swedbank AB lifted its holdings in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC lifted its holdings in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after buying an additional 273,078 shares in the last quarter. United Bank acquired a new stake in AbbVie during the 3rd quarter worth approximately $217,000. Finally, Thrivent Financial for Lutherans lifted its holdings in AbbVie by 23.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 332,252 shares of the company’s stock worth $65,612,000 after buying an additional 63,474 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Raymond James restated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. 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 report on Friday, November 22nd. Finally, Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.3 %

Shares of NYSE ABBV opened at $213.80 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The firm has a 50-day moving average price of $192.47 and a 200 day moving average price of $188.31. The stock has a market capitalization of $377.43 billion, a price-to-earnings ratio of 89.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 last year, the firm posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

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.