Syverson Strege & Co Acquires 1,304 Shares of AbbVie Inc. (NYSE:ABBV)

Syverson Strege & Co boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,554 shares of the company’s stock after purchasing an additional 1,304 shares during the quarter. Syverson Strege & Co’s holdings in AbbVie were worth $809,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Everence Capital Management Inc. increased its position in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its position in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. State Street Corp increased its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Sky Investment Group LLC raised its stake in shares of AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after acquiring an additional 3,936 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after acquiring an additional 3,654 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ABBV shares. Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Trading Down 0.4 %

ABBV opened at $209.25 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market cap of $369.40 billion, a price-to-earnings ratio of 87.19, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock has a fifty day moving average price of $195.14 and a 200-day moving average price of $188.73.

AbbVie (NYSE:ABBV) last announced its earnings results 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 quarter in the prior year, the company earned $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 directly owns 11,496 shares in the company, valued at approximately $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 three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by insiders.

AbbVie 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.