Twin Capital Management Inc. Has $5.92 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Twin Capital Management Inc. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,181 shares of the company’s stock after buying an additional 1,417 shares during the quarter. AbbVie accounts for about 0.8% of Twin Capital Management Inc.’s investment portfolio, making the stock its 21st largest position. Twin Capital Management Inc.’s holdings in AbbVie were worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Moneta Group Investment Advisors LLC lifted its position in shares of AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after buying an additional 29,170,366 shares during the period. Norges Bank bought a new position in shares of AbbVie during the 4th quarter worth approximately $3,033,348,000. Massachusetts Financial Services Co. MA raised its position in AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after purchasing an additional 6,012,281 shares during the last quarter. Morgan Stanley raised its position in AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after purchasing an additional 4,785,277 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.0 %

Shares of ABBV stock traded up $1.68 on Thursday, reaching $165.93. 2,130,851 shares of the stock were exchanged, compared to its average volume of 5,605,041. The stock has a market cap of $293.80 billion, a PE ratio of 60.89, a P/E/G ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a 50 day moving average price of $175.79 and a 200 day moving average price of $159.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 11.17 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analyst Ratings Changes

Several equities analysts have issued reports on ABBV shares. Barclays lifted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. 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 report on Monday, February 5th. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last three months. Company insiders own 0.25% of the company’s stock.

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.