Rathbones Group PLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,428 shares of the company's stock after selling 10,327 shares during the quarter. Rathbones Group PLC's holdings in AbbVie were worth $14,114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. boosted its position in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock worth $1,749,000 after purchasing an additional 58 shares in the last quarter. Doliver Advisors LP boosted its position in shares of AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock worth $938,000 after purchasing an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC grew its holdings in shares of AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock valued at $213,000 after buying an additional 60 shares during the period. 70.23% of the stock is currently owned by institutional investors.
AbbVie Stock Performance
Shares of NYSE ABBV traded up $1.84 during midday trading on Friday, hitting $176.04. 4,246,922 shares of the company's stock were exchanged, compared to its average volume of 5,922,573. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company's 50 day moving average price is $200.47 and its 200 day moving average price is $188.60. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $311.41 billion, a PE ratio of 72.75, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company earned $2.79 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.73%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.
Insider Transactions at AbbVie
In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 over the last quarter. Company insiders own 0.25% of the company's stock.
Analysts Set New Price Targets
ABBV has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on AbbVie from $239.00 to $241.00 and gave the stock an "overweight" rating in a report on Wednesday. Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.71.
Get Our Latest Research Report on ABBV
About AbbVie
(
Free Report)
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.
Featured Articles
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
