Transcend Capital Advisors LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,060 shares of the company's stock after selling 3,303 shares during the quarter. Transcend Capital Advisors LLC's holdings in AbbVie were worth $7,652,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter worth $35,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie during the 3rd quarter worth $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Stock Performance
Shares of AbbVie stock traded up $1.15 during trading hours on Friday, hitting $202.03. 5,879,957 shares of the company were exchanged, compared to its average volume of 5,370,269. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. The business has a 50-day moving average of $181.25 and a 200-day moving average of $186.41. The stock has a market capitalization of $356.64 billion, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 posted $2.79 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is 273.33%.
Analyst Ratings Changes
ABBV has been the subject of several analyst reports. Bank of America reissued a "neutral" rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Raymond James reaffirmed an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on AbbVie from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.35.
View Our Latest Analysis on ABBV
Insiders Place Their Bets
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.
AbbVie Profile
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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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