Brandywine Global Investment Management LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Brandywine Global Investment Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,069,571 shares of the company's stock after selling 83,009 shares during the period. AbbVie makes up approximately 1.4% of Brandywine Global Investment Management LLC's investment portfolio, making the stock its 11th largest position. Brandywine Global Investment Management LLC owned about 0.06% of AbbVie worth $190,063,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ABBV. Physician Wealth Advisors Inc. purchased a new position in AbbVie during the fourth quarter worth about $85,000. RWA Wealth Partners LLC raised its position in shares of AbbVie by 1.5% during the 4th quarter. RWA Wealth Partners LLC now owns 311,031 shares of the company's stock valued at $55,270,000 after buying an additional 4,664 shares during the period. C2C Wealth Management LLC lifted its holdings in AbbVie by 1.6% in the fourth quarter. C2C Wealth Management LLC now owns 4,010 shares of the company's stock valued at $713,000 after acquiring an additional 63 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in AbbVie by 40.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 644,969 shares of the company's stock worth $114,611,000 after acquiring an additional 185,820 shares during the period. Finally, American Money Management LLC grew its position in AbbVie by 0.7% in the fourth quarter. American Money Management LLC now owns 41,023 shares of the company's stock worth $7,290,000 after acquiring an additional 284 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Up 2.2 %

Shares of ABBV stock traded up $4.54 on Monday, reaching $209.83. 11,093,562 shares of the stock were exchanged, compared to its average volume of 5,725,897. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. 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 market capitalization of $371.19 billion, a price-to-earnings ratio of 87.43, a PEG ratio of 1.62 and a beta of 0.61. The business's 50 day moving average price is $197.50 and its 200 day moving average price is $188.91.

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 analysts' consensus estimates 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 period in the previous year, the company posted $2.79 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 3.13%. AbbVie's dividend payout ratio is presently 273.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Piper Sandler Companies restated an "overweight" rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently 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.