Level Four Advisory Services LLC Sells 7,570 Shares of AbbVie Inc. (NYSE:ABBV)

Level Four Advisory Services LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,149 shares of the company's stock after selling 7,570 shares during the period. AbbVie makes up approximately 0.9% of Level Four Advisory Services LLC's holdings, making the stock its 19th biggest holding. Level Four Advisory Services LLC's holdings in AbbVie were worth $22,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Vertex Planning Partners LLC increased its stake in AbbVie by 56.0% during the 4th quarter. Vertex Planning Partners LLC now owns 15,941 shares of the company's stock worth $2,833,000 after purchasing an additional 5,721 shares in the last quarter. denkapparat Operations GmbH acquired a new position in AbbVie in the 4th quarter worth $484,000. Premier Fund Managers Ltd increased its holdings in AbbVie by 45.7% during the 4th quarter. Premier Fund Managers Ltd now owns 7,647 shares of the company's stock worth $1,347,000 after purchasing an additional 2,400 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of AbbVie by 3.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 142,883 shares of the company's stock worth $25,390,000 after buying an additional 4,961 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of AbbVie by 3.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 817,389 shares of the company's stock worth $145,250,000 after acquiring an additional 26,771 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently commented on ABBV shares. Piper Sandler Companies restated an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Bank of America raised their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Raymond James reiterated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.45.

AbbVie Stock Performance

Shares of ABBV traded up $1.48 during midday trading on Monday, reaching $206.77. 3,350,405 shares of the stock were exchanged, compared to its average volume of 5,695,773. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock's 50 day simple moving average is $197.50 and its 200 day simple moving average is $188.91. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a market cap of $365.78 billion, a P/E ratio of 86.18, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company posted $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.17%. AbbVie's dividend payout ratio is presently 273.33%.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

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.