Torray Investment Partners LLC Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Torray Investment Partners LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 42.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,671 shares of the company’s stock after purchasing an additional 9,107 shares during the period. Torray Investment Partners LLC’s holdings in AbbVie were worth $5,450,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $35,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.1 %

Shares of NYSE ABBV opened at $211.27 on Tuesday. The firm’s fifty day moving average is $185.08 and its 200 day moving average is $187.04. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $212.30. 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 company has a market cap of $372.97 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 firm posted $2.79 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’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 transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABBV shares. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted 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. Five equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

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.