Fundamentun LLC Cuts Position in AbbVie Inc. (NYSE:ABBV)

Fundamentun LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,626 shares of the company’s stock after selling 141 shares during the quarter. Fundamentun LLC’s holdings in AbbVie were worth $1,879,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. GYL Financial Synergies LLC increased its position in AbbVie by 0.7% in the 3rd quarter. GYL Financial Synergies LLC now owns 10,051 shares of the company’s stock worth $1,349,000 after purchasing an additional 72 shares during the last quarter. Syntal Capital Partners LLC increased its position in AbbVie by 0.9% in the 3rd quarter. Syntal Capital Partners LLC now owns 7,811 shares of the company’s stock worth $1,048,000 after purchasing an additional 72 shares during the last quarter. Headinvest LLC increased its position in AbbVie by 0.5% in the 3rd quarter. Headinvest LLC now owns 14,412 shares of the company’s stock worth $1,934,000 after purchasing an additional 73 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of AbbVie by 1.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,980 shares of the company’s stock valued at $803,000 after acquiring an additional 74 shares during the last quarter. Finally, Libra Wealth LLC increased its holdings in shares of AbbVie by 2.5% during the 3rd quarter. Libra Wealth LLC now owns 3,135 shares of the company’s stock valued at $421,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.

AbbVie Price Performance

ABBV traded down $1.08 during midday trading on Friday, reaching $154.22. 42,756,434 shares of the company’s stock were exchanged, compared to its average volume of 6,742,032. The firm has a market capitalization of $272.88 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 3.50 and a beta of 0.62. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 3.42. AbbVie Inc. has a one year low of $134.09 and a one year high of $175.91. The business has a 50-day simple moving average of $151.13 and a two-hundred day simple moving average of $150.82.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $15.12 billion during the quarter, compared to analysts’ expectations of $15.30 billion. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.31 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 11 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, April 13th. AbbVie’s dividend payout ratio is 89.56%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Guggenheim initiated coverage on AbbVie in a report on Tuesday, February 28th. They set a “buy” rating and a $172.00 price objective on the stock. Truist Financial increased their price objective on AbbVie from $160.00 to $180.00 in a report on Thursday, January 5th. Piper Sandler increased their price objective on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Atlantic Securities dropped their price target on AbbVie from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Friday, February 10th. Finally, SVB Securities raised AbbVie from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $135.00 to $153.00 in a research report on Friday, February 10th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Hold” and an average target price of $161.12.

Insiders Place Their Bets

In other news, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the completion of the sale, the director now owns 40,705 shares of the company’s stock, valued at $6,126,102.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Elaine K. Sorg sold 15,003 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the completion of the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at $6,638,495. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the sale, the director now directly owns 40,705 shares of the company’s stock, valued at approximately $6,126,102.50. The disclosure for this sale can be found here. Insiders sold a total of 159,746 shares of company stock worth $24,267,450 over the last quarter. Company insiders own 0.08% of the company’s stock.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.