AbbVie Inc. (NYSE:ABBV) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 215,029 shares of the company's stock after selling 2,113 shares during the quarter. Avantax Advisory Services Inc.'s holdings in AbbVie were worth $38,211,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Swedbank AB grew its holdings in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after buying an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC increased its position in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after purchasing an additional 339 shares during the period. Principal Financial Group Inc. increased its position in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares during the period. United Bank acquired a new position in shares of AbbVie during the 3rd quarter valued at $217,000. Finally, Ashton Thomas Securities LLC increased its position in shares of AbbVie by 21.5% during the 3rd quarter. Ashton Thomas Securities LLC now owns 1,942 shares of the company's stock valued at $384,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 1.4 %

ABBV opened at $213.71 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a fifty day moving average price of $189.16 and a two-hundred day moving average price of $187.73. The company has a market cap of $377.28 billion, a P/E ratio of 89.05, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

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AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the company earned $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Daiwa Capital Markets lowered AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.45.

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.

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