Wynn Capital LLC Makes New $1.31 Million Investment in AbbVie Inc. (NYSE:ABBV)

Wynn Capital LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,424 shares of the company’s stock, valued at approximately $1,305,000.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the period. International Assets Investment Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $499,955,000. Vanguard Group Inc. boosted its stake in AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in AbbVie by 201.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after buying an additional 1,433,236 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in AbbVie by 34.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after buying an additional 1,130,638 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets lifted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays lifted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Stock Down 1.0 %

Shares of NYSE:ABBV traded down $1.71 during mid-day trading on Wednesday, hitting $167.83. 4,074,754 shares of the company traded hands, compared to its average volume of 5,594,750. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The firm’s 50 day simple moving average is $175.26 and its 200 day simple moving average is $160.57. The firm has a market cap of $297.17 billion, a P/E ratio of 61.56, a PEG ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the business earned $3.60 EPS. AbbVie’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.69%. AbbVie’s dividend payout ratio is presently 227.11%.

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.