Elo Mutual Pension Insurance Co Sells 6,634 Shares of AbbVie Inc. (NYSE:ABBV)

Elo Mutual Pension Insurance Co reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,192 shares of the company's stock after selling 6,634 shares during the quarter. AbbVie accounts for about 0.6% of Elo Mutual Pension Insurance Co's holdings, making the stock its 26th biggest position. Elo Mutual Pension Insurance Co's holdings in AbbVie were worth $28,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of AbbVie in the 4th quarter worth $1,190,951,000. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Boston Partners grew its position in AbbVie by 35.9% in the 4th quarter. Boston Partners now owns 5,687,472 shares of the company's stock worth $1,008,867,000 after purchasing an additional 1,503,875 shares in the last quarter. Vanguard Group Inc. increased its stake in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Remove Ads

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of NYSE ABBV traded up $2.40 during trading hours on Friday, reaching $205.12. 6,477,974 shares of the stock traded hands, compared to its average volume of 5,704,425. The company has a market capitalization of $362.85 billion, a P/E ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company's 50-day simple moving average is $197.50 and its two-hundred day simple moving average is $188.95. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current 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 paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Analyst Ratings Changes

Several research firms have recently issued reports on ABBV. Guggenheim upped their target price on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average 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.