Next Capital Management LLC Buys 333 Shares of AbbVie Inc. (NYSE:ABBV)

Next Capital Management LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,449 shares of the company’s stock after purchasing an additional 333 shares during the period. Next Capital Management LLC’s holdings in AbbVie were worth $435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. increased its stake in AbbVie by 0.5% in the fourth 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 in the last quarter. Armstrong Advisory Group Inc. raised its holdings in AbbVie by 0.6% in the fourth 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 during the period. Canopy Partners LLC boosted its position in shares of AbbVie by 1.4% during the third quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock worth $860,000 after purchasing an additional 59 shares in the last quarter. Finally, Doliver Advisors LP grew its holdings in shares of AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after buying an additional 59 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were 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 in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Down 0.3 %

NYSE:ABBV opened at $213.80 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a market capitalization of $377.43 billion, a price-to-earnings ratio of 89.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s 50 day moving average price is $192.47 and its two-hundred day moving average price is $188.31.

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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business earned $2.79 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 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.