Sierra Ocean LLC Invests $148,000 in AbbVie Inc. (NYSE:ABBV)

Sierra Ocean LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 834 shares of the company’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of ABBV opened at $193.00 on Monday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The firm’s 50 day moving average is $178.93 and its 200-day moving average is $186.03. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the firm posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on ABBV. Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Finally, UBS Group increased their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.35.

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.