Syon Capital LLC Buys 3,371 Shares of AbbVie Inc. (NYSE:ABBV)

Syon Capital LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,045 shares of the company’s stock after purchasing an additional 3,371 shares during the period. Syon Capital LLC’s holdings in AbbVie were worth $3,740,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sompo Asset Management Co. Ltd. raised its stake in AbbVie by 10.8% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 5,930 shares of the company’s stock worth $1,054,000 after buying an additional 580 shares during the period. Alta Advisers Ltd increased its stake in AbbVie by 22.3% during the 4th quarter. Alta Advisers Ltd now owns 5,865 shares of the company’s stock valued at $1,042,000 after purchasing an additional 1,069 shares in the last quarter. Aldebaran Financial Inc. lifted its stake in shares of AbbVie by 12.9% in the fourth quarter. Aldebaran Financial Inc. now owns 2,664 shares of the company’s stock valued at $469,000 after buying an additional 304 shares in the last quarter. Steel Grove Capital Advisors LLC grew its holdings in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after buying an additional 52 shares during the last quarter. Finally, Fayez Sarofim & Co increased its position in shares of AbbVie by 7.5% during the fourth quarter. Fayez Sarofim & Co now owns 2,206,188 shares of the company’s stock worth $392,040,000 after acquiring an additional 153,294 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 2.1 %

Shares of NYSE:ABBV opened at $173.72 on Wednesday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The business’s 50 day moving average is $197.62 and its 200 day moving average is $187.44. The stock has a market cap of $307.31 billion, a P/E ratio of 72.38, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. 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 (NYSE:ABBV) last issued 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 quarter in the prior year, the company posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie’s payout ratio is 273.33%.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America lifted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.19.

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.