AbbVie Inc. (NYSE:ABBV) Shares Purchased by Stuart Chaussee & Associates Inc.

Stuart Chaussee & Associates Inc. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 18.9% in the 4th quarter, HoldingsChannel reports. The firm owned 967 shares of the company’s stock after purchasing an additional 154 shares during the period. Stuart Chaussee & Associates Inc.’s holdings in AbbVie were worth $150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares in the last quarter. Morgan Stanley boosted its position in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after acquiring an additional 914,485 shares in the last quarter. Northern Trust Corp boosted its position in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after acquiring an additional 491,391 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AbbVie by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after acquiring an additional 352,817 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of AbbVie by 1.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock worth $2,098,436,000 after acquiring an additional 199,833 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three equities research 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. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $177.43.

Insider Activity

In other 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 value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on 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 owns 55,903 shares in the company, valued at approximately $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 quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock traded down $7.67 during midday trading on Friday, hitting $159.62. 10,721,740 shares of the stock were exchanged, compared to its average volume of 5,004,945. The stock’s 50-day moving average price is $174.59 and its 200-day moving average price is $160.82. The stock has a market cap of $282.63 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. Research analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

AbbVie Company 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.