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

Diversify Advisory Services LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,105 shares of the company's stock after selling 6,472 shares during the period. Diversify Advisory Services LLC's holdings in AbbVie were worth $3,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Pine Haven Investment Counsel Inc grew its holdings in AbbVie by 1.4% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 18,347 shares of the company's stock worth $3,260,000 after purchasing an additional 245 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of AbbVie by 62.3% in the 4th quarter. Diversify Wealth Management LLC now owns 25,635 shares of the company's stock worth $4,491,000 after purchasing an additional 9,840 shares in the last quarter. RoundAngle Advisors LLC purchased a new position in AbbVie during the 4th quarter worth $1,730,000. Grove Bank & Trust increased its position in AbbVie by 2.2% during the 4th quarter. Grove Bank & Trust now owns 13,141 shares of the company's stock valued at $2,335,000 after buying an additional 282 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter valued at about $1,054,000. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of ABBV traded down $2.21 during trading hours on Monday, hitting $171.49. The stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. The firm has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a 50-day moving average price of $175.78 and a 200 day moving average price of $184.75. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie's payout ratio is 215.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Truist Financial cut their price target on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Barclays lifted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price target for the company. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $205.50.

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.