AbbVie Inc. (NYSE:ABBV) Shares Sold by South Street Advisors LLC

South Street Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,714 shares of the company's stock after selling 1,247 shares during the period. South Street Advisors LLC's holdings in AbbVie were worth $2,259,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ABBV. State Street Corp lifted its holdings in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. FMR LLC increased its stake in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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AbbVie Stock Down 0.9 %

Shares of ABBV stock traded down $1.98 during mid-day trading on Friday, hitting $209.98. The stock had a trading volume of 16,647,005 shares, compared to its average volume of 5,239,350. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market capitalization of $370.68 billion, a P/E ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The firm's 50-day moving average is $194.49 and its two-hundred day moving average is $188.73. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results 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 period in the previous year, the firm earned $2.79 earnings per share. On average, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Five equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.45.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

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.