AbbVie Inc. (NYSE:ABBV) Shares Sold by PGGM Investments

PGGM Investments lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,984 shares of the company's stock after selling 6,757 shares during the period. PGGM Investments' holdings in AbbVie were worth $11,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Balboa Wealth Partners grew its position in shares of AbbVie by 4.5% in the fourth quarter. Balboa Wealth Partners now owns 7,193 shares of the company's stock valued at $1,278,000 after purchasing an additional 308 shares during the period. Erste Asset Management GmbH grew its position in AbbVie by 7.5% during the fourth quarter. Erste Asset Management GmbH now owns 139,949 shares of the company's stock valued at $24,911,000 after acquiring an additional 9,765 shares during the period. Tredje AP fonden grew its position in AbbVie by 2.2% during the fourth quarter. Tredje AP fonden now owns 749,458 shares of the company's stock valued at $133,179,000 after acquiring an additional 16,338 shares during the period. Mascoma Wealth Management LLC grew its position in AbbVie by 12.3% during the fourth quarter. Mascoma Wealth Management LLC now owns 797 shares of the company's stock valued at $142,000 after acquiring an additional 87 shares during the period. Finally, Rakuten Securities Inc. grew its position in AbbVie by 160.6% during the fourth quarter. Rakuten Securities Inc. now owns 357 shares of the company's stock valued at $63,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

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Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.4 %

Shares of NYSE:ABBV traded down $0.87 during trading on Thursday, hitting $211.19. The company's stock had a trading volume of 5,558,844 shares, compared to its average volume of 6,149,814. 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 fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock's 50-day moving average price is $190.48 and its two-hundred day moving average price is $188.06. The company has a market capitalization of $372.83 billion, a PE ratio of 88.00, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS 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 period in the prior year, the company posted $2.79 EPS. As a group, sell-side analysts expect 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 paid 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 3.11%. AbbVie's payout ratio is 273.33%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Raymond James reissued an "outperform" rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price target for the company. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Five 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 company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $211.45.

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.