Chicago Partners Investment Group LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 9.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,831 shares of the company’s stock after buying an additional 1,262 shares during the period. Chicago Partners Investment Group LLC’s holdings in AbbVie were worth $1,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in AbbVie during the 4th quarter worth $2,070,985,000. Boston Partners raised its holdings in shares of AbbVie by 1,962.8% during the fourth quarter. Boston Partners now owns 2,881,764 shares of the company’s stock valued at $308,781,000 after purchasing an additional 2,742,063 shares during the period. Morgan Stanley increased its stake in AbbVie by 19.0% during the 4th quarter. Morgan Stanley now owns 16,336,505 shares of the company’s stock valued at $1,750,457,000 after purchasing an additional 2,605,050 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 2.0% in the fourth quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock valued at $13,331,975,000 after purchasing an additional 2,406,847 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in AbbVie by 24.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 11,438,531 shares of the company’s stock valued at $1,225,639,000 after buying an additional 2,263,374 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. Mizuho boosted their price objective on AbbVie from $126.00 to $128.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada started coverage on AbbVie in a report on Wednesday, April 7th. They set a $135.00 target price for the company. Morgan Stanley lowered their price target on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. Piper Sandler boosted their price objective on shares of AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $116.94.

In related news, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $18,475,972.93. Following the completion of the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at approximately $48,981,046.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Elaine K. Sorg sold 8,440 shares of the company’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $916,668.40. Following the transaction, the senior vice president now owns 26,035 shares in the company, valued at approximately $2,827,661.35. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock valued at $21,511,667 over the last quarter. Company insiders own 0.09% of the company’s stock.

ABBV opened at $114.68 on Tuesday. The stock has a market cap of $202.39 billion, a PE ratio of 24.25, a PEG ratio of 1.54 and a beta of 0.84. The business has a 50 day moving average of $107.82 and a 200-day moving average of $103.84. AbbVie Inc. has a 52 week low of $79.11 and a 52 week high of $115.10. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.12. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.84 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The company’s quarterly revenue was up 50.9% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Wednesday, April 14th. AbbVie’s dividend payout ratio is 58.17%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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