Insigneo Advisory Services LLC Sells 6,870 Shares of AbbVie Inc. (NYSE:ABBV)

Insigneo Advisory Services LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,412 shares of the company's stock after selling 6,870 shares during the period. Insigneo Advisory Services LLC's holdings in AbbVie were worth $2,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in AbbVie during the 4th quarter worth approximately $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC increased its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.6 %

ABBV stock traded up $1.10 during mid-day trading on Friday, hitting $172.78. 8,474,425 shares of the company were exchanged, compared to its average volume of 6,005,419. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm's 50 day simple moving average is $198.47 and its 200 day simple moving average is $187.76. The firm has a market cap of $305.64 billion, a P/E ratio of 71.99, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BMO Capital Markets increased their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 9th. Seven equities 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, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $210.71.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. Insiders own 0.25% of the company's stock.

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.