Syon Capital LLC Acquires 4,962 Shares of AbbVie Inc. (NYSE:ABBV)

Syon Capital LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 43.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,334 shares of the company’s stock after purchasing an additional 4,962 shares during the period. Syon Capital LLC’s holdings in AbbVie were worth $2,531,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABBV. Altfest L J & Co. Inc. raised its stake in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after acquiring an additional 215 shares during the last quarter. Torray Investment Partners LLC raised its stake in shares of AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after acquiring an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in shares of AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC raised its stake in shares of AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after acquiring an additional 400 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of AbbVie by 5.4% during the third quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock valued at $17,709,000 after acquiring an additional 6,139 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 4.6 %

Shares of NYSE ABBV traded down $7.67 during trading on Friday, reaching $159.62. The company had a trading volume of 10,658,202 shares, compared to its average volume of 5,657,038. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The stock has a market cap of $282.63 billion, a PE ratio of 58.94, a P/E/G ratio of 2.13 and a beta of 0.58. The business’s 50-day moving average is $174.94 and its 200 day moving average is $160.67. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.20 by $0.11. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm posted $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Activity at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 519,099 shares in the company, 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 valued at $67,780,003 over the last ninety days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets boosted their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, Truist Financial upped their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.