Twin Capital Management Inc. Has $7.08 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Twin Capital Management Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,852 shares of the company’s stock after acquiring an additional 3,214 shares during the quarter. AbbVie comprises about 0.8% of Twin Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Twin Capital Management Inc.’s holdings in AbbVie were worth $7,082,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares in the last quarter. Doliver Advisors LP lifted its holdings in shares of AbbVie by 1.1% in the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after purchasing an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC boosted its position in shares of AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after buying an additional 60 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $186.58 on Monday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The stock has a fifty day moving average of $200.61 and a 200 day moving average of $189.18. 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 $330.06 billion, a price-to-earnings ratio of 77.74, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last issued its quarterly 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 period in the prior year, the company posted $2.79 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Morgan Stanley lifted their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.45.

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.