AbbVie Inc. (NYSE:ABBV) Shares Purchased by Miramar Capital LLC

Miramar Capital LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 109,129 shares of the company’s stock after purchasing an additional 7,348 shares during the period. AbbVie makes up 4.6% of Miramar Capital LLC’s portfolio, making the stock its 4th largest holding. Miramar Capital LLC’s holdings in AbbVie were worth $19,392,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB lifted its holdings in AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after acquiring an additional 6,810 shares during the period. Howard Capital Management Group LLC lifted its holdings in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. lifted its holdings in AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after acquiring an additional 273,078 shares during the period. Consolidated Planning Corp lifted its holdings in AbbVie by 12.8% in the third quarter. Consolidated Planning Corp now owns 2,088 shares of the company’s stock valued at $412,000 after acquiring an additional 237 shares during the period. Finally, TFB Advisors LLC lifted its holdings in AbbVie by 3.4% in the third quarter. TFB Advisors LLC now owns 1,783 shares of the company’s stock valued at $352,000 after acquiring an additional 59 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ABBV. UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

Insiders Place Their Bets

In other news, 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 value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.8 %

AbbVie stock opened at $214.55 on Friday. The stock has a market cap of $378.75 billion, a PE ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.61. The stock has a 50-day moving average price of $187.63 and a 200 day moving average price of $187.53. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $215.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm posted $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio 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.