AbbVie Inc. (NYSE:ABBV) Shares Bought by Channing Capital Management LLC

Channing Capital Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,986 shares of the company’s stock after acquiring an additional 3,152 shares during the quarter. Channing Capital Management LLC’s holdings in AbbVie were worth $9,141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Horst & Graben Wealth Management LLC acquired a new stake in shares of AbbVie during the third quarter worth $210,000. Bouchey Financial Group Ltd lifted its holdings in AbbVie by 6.6% in the third quarter. Bouchey Financial Group Ltd now owns 4,135 shares of the company’s stock worth $616,000 after acquiring an additional 257 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in AbbVie by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 857,304 shares of the company’s stock valued at $127,790,000 after acquiring an additional 14,500 shares during the period. Guyasuta Investment Advisors Inc. grew its holdings in shares of AbbVie by 2.4% during the third quarter. Guyasuta Investment Advisors Inc. now owns 32,511 shares of the company’s stock valued at $4,846,000 after purchasing an additional 774 shares during the last quarter. Finally, BLB&B Advisors LLC raised its position in shares of AbbVie by 4.1% during the 3rd quarter. BLB&B Advisors LLC now owns 78,297 shares of the company’s stock worth $11,671,000 after purchasing an additional 3,096 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie 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 approximately $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the 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 in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $92,020,679.73. 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 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Truist Financial increased their price objective on 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Price Performance

Shares of AbbVie stock traded up $2.98 during trading on Friday, hitting $163.79. The stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The business has a fifty day moving average of $173.13 and a two-hundred day moving average of $161.39. The firm has a market cap of $290.01 billion, a P/E ratio of 48.60, a PEG ratio of 2.07 and a beta of 0.61. 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 current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the company earned $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

About AbbVie

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.