Gulf International Bank UK Ltd Sells 1,540 Shares of AbbVie Inc. (NYSE:ABBV)

Gulf International Bank UK Ltd lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,544 shares of the company's stock after selling 1,540 shares during the quarter. AbbVie accounts for 0.6% of Gulf International Bank UK Ltd's investment portfolio, making the stock its 24th biggest position. Gulf International Bank UK Ltd's holdings in AbbVie were worth $24,441,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. Everence Capital Management Inc. raised its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC raised its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its position in AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction on 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 of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

AbbVie Stock Up 1.0 %

NYSE:ABBV traded up $2.05 during mid-day trading on Thursday, hitting $205.06. 5,692,933 shares of the company's stock were exchanged, compared to its average volume of 5,871,798. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a fifty day moving average price of $183.75 and a 200 day moving average price of $186.85. The company has a market cap of $362.00 billion, a PE ratio of 85.44, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the firm earned $2.79 earnings per share. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of brokerages recently commented on ABBV. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Bank of America restated a "neutral" rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Piper Sandler Companies restated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.35.

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.