AbbVie Inc. (NYSE:ABBV) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 68.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,739 shares of the company's stock after selling 44,138 shares during the period. Foundations Investment Advisors LLC's holdings in AbbVie were worth $3,685,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Groupama Asset Managment boosted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the 3rd quarter worth about $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the 4th quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% during 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 last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock traded down $2.02 during mid-day trading on Tuesday, reaching $174.88. The company's stock had a trading volume of 5,603,615 shares, compared to its average volume of 6,088,012. 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 company has a market capitalization of $309.04 billion, a P/E ratio of 60.72, a PEG ratio of 1.68 and a beta of 0.58. The firm's fifty day moving average price is $176.05 and its two-hundred day moving average price is $184.94.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.75%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is presently 227.78%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Guggenheim boosted their price objective on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Citigroup lowered their price objective on shares of AbbVie from $215.00 to $205.00 and set a "buy" rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.00.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The stock was 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 in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company 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.