DDD Partners LLC Sells 822 Shares of AbbVie Inc. (NYSE:ABBV)

DDD Partners LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,307 shares of the company’s stock after selling 822 shares during the quarter. AbbVie accounts for 2.8% of DDD Partners LLC’s holdings, making the stock its 12th biggest holding. DDD Partners LLC’s holdings in AbbVie were worth $20,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hibernia Wealth Partners LLC acquired a new position in AbbVie in the 3rd quarter valued at $36,000. VitalStone Financial LLC grew its holdings in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $39,000. KB Financial Partners LLC acquired a new stake in shares of AbbVie during the 1st quarter worth $45,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth $38,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ABBV. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Monday, December 11th. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets upped their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

AbbVie stock opened at $180.35 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $319.34 billion, a PE ratio of 66.06, a P/E/G ratio of 2.27 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a 50-day moving average price of $174.15 and a two-hundred day moving average price of $157.81.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $3.60 earnings per share. Analysts expect that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.44%. AbbVie’s payout ratio is 227.11%.

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.