Schroder Investment Management Group trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,426,105 shares of the company's stock after selling 235,739 shares during the quarter. Schroder Investment Management Group owned 0.14% of AbbVie worth $431,119,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC raised its holdings in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. increased its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Armstrong Advisory Group Inc. increased its holdings in AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock valued at $1,749,000 after buying an additional 58 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of AbbVie by 1.1% during the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock worth $938,000 after acquiring an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC grew its holdings in shares of AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock worth $213,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ABBV. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. BMO Capital Markets lifted 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. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Bank of America raised their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Raymond James reaffirmed 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. Five 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.45.
Check Out Our Latest Stock Report on ABBV
AbbVie Stock Up 2.2 %
Shares of AbbVie stock traded up $4.54 on Monday, hitting $209.83. 11,093,562 shares of the company's stock traded hands, compared to its average volume of 5,725,897. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. 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 has a market cap of $371.19 billion, a P/E ratio of 87.43, a PEG ratio of 1.62 and a beta of 0.61. The firm's 50-day moving average is $197.50 and its 200 day moving average is $188.91.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the business earned $2.79 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.13%. AbbVie's payout ratio is 273.33%.
Insider Activity at AbbVie
In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated 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 owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on 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 sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,639 shares of company stock valued at $11,067,025. Corporate insiders own 0.25% of the company's stock.
AbbVie Company Profile
(
Free Report)
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.
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