AbbVie Inc. (NYSE:ABBV) Stock Position Trimmed by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 57,833 shares of the company's stock after selling 5,459 shares during the period. Dynamic Advisor Solutions LLC's holdings in AbbVie were worth $10,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth approximately $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the third quarter worth about $39,000. Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Down 0.4 %

Shares of NYSE:ABBV traded down $0.62 during trading on Friday, reaching $170.05. 5,584,343 shares of the stock were exchanged, compared to its average volume of 4,522,214. The firm has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a price-to-earnings-growth ratio of 1.68 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. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm's 50-day moving average price is $175.84 and its 200 day moving average price is $184.77.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. AbbVie's payout ratio is 227.78%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a report on Friday, November 22nd. BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective on the stock. Five research 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $205.50.

Insider Buying and Selling 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 value 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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

AbbVie 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.