Eudaimonia Advisors LLC Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Eudaimonia Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,967 shares of the company’s stock after selling 182 shares during the quarter. AbbVie makes up 1.7% of Eudaimonia Advisors LLC’s holdings, making the stock its 12th largest holding. Eudaimonia Advisors LLC’s holdings in AbbVie were worth $2,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altfest L J & Co. Inc. boosted its position in AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after purchasing an additional 215 shares in the last quarter. Torray Investment Partners LLC boosted its stake in AbbVie by 13.0% in the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares in the last quarter. Amplius Wealth Advisors LLC raised its holdings in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in AbbVie by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after acquiring an additional 6,139 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock traded up $1.65 during mid-day trading on Tuesday, reaching $169.54. The stock had a trading volume of 4,083,385 shares, compared to its average volume of 5,615,517. The company has a market cap of $300.20 billion, a P/E ratio of 62.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The business has a 50-day simple moving average of $175.34 and a 200 day simple moving average of $160.42.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the business posted $3.60 earnings per share. AbbVie’s revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, 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. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Raymond James upped their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.43.

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.