AbbVie Inc. (NYSE:ABBV) Shares Sold by Prudential PLC

Prudential PLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,574 shares of the company's stock after selling 26,926 shares during the quarter. Prudential PLC's holdings in AbbVie were worth $24,447,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Groupama Asset Managment increased its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $29,000. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie during the 4th quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter worth approximately $32,000. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, Morgan Stanley raised their price objective on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

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Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 7.5 %

Shares of AbbVie stock traded down $15.06 during trading on Friday, hitting $186.58. 13,498,167 shares of the stock traded hands, compared to its average volume of 5,780,700. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock's fifty day simple moving average is $200.61 and its 200 day simple moving average is $189.24. The firm has a market cap of $330.06 billion, a P/E ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the company posted $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.52%. AbbVie's dividend payout ratio is currently 273.33%.

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.