State Farm Mutual Automobile Insurance Co. Sells 25,484 Shares of AbbVie Inc. (NYSE:ABBV)

State Farm Mutual Automobile Insurance Co. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,962,359 shares of the company's stock after selling 25,484 shares during the quarter. AbbVie comprises approximately 1.0% of State Farm Mutual Automobile Insurance Co.'s investment portfolio, making the stock its 29th biggest holding. State Farm Mutual Automobile Insurance Co. owned about 0.34% of AbbVie worth $1,059,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Howard Capital Management Group LLC grew its holdings in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after purchasing an additional 339 shares during the period. Principal Financial Group Inc. grew its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after buying an additional 273,078 shares during the period. United Bank bought a new stake in shares of AbbVie in the 3rd quarter valued at $217,000. Algert Global LLC acquired a new stake in AbbVie during the 3rd quarter worth $1,436,000. Finally, Quantbot Technologies LP bought a new position in AbbVie during the third quarter worth about $152,000. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction that occurred 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 owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

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AbbVie Stock Performance

ABBV stock traded up $4.54 during trading hours on Monday, reaching $209.83. The stock had a trading volume of 5,657,055 shares, compared to its average volume of 5,707,449. The stock has a 50-day simple moving average of $197.50 and a 200 day simple moving average of $188.91. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock has a market capitalization of $371.19 billion, a PE ratio of 87.22, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. 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 (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $2.79 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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. This represents a $6.56 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABBV shares. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

AbbVie Company 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.