Jackson Square Capital LLC Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Jackson Square Capital LLC cut its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 36.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,284 shares of the company’s stock after selling 9,502 shares during the quarter. Jackson Square Capital LLC’s holdings in AbbVie were worth $2,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Raub Brock Capital Management LP increased its stake in AbbVie by 0.8% during the 4th quarter. Raub Brock Capital Management LP now owns 103,277 shares of the company’s stock valued at $18,352,000 after purchasing an additional 854 shares in the last quarter. Krilogy Financial LLC lifted its stake in shares of AbbVie by 2.0% during the fourth quarter. Krilogy Financial LLC now owns 11,332 shares of the company’s stock worth $2,014,000 after buying an additional 225 shares during the period. TruWealth Advisors LLC grew its holdings in shares of AbbVie by 0.7% during the fourth quarter. TruWealth Advisors LLC now owns 157,641 shares of the company’s stock valued at $28,013,000 after buying an additional 1,160 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of AbbVie by 18.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 23,936 shares of the company’s stock valued at $4,254,000 after acquiring an additional 3,657 shares during the period. Finally, HB Wealth Management LLC raised its stake in AbbVie by 12.6% in the 4th quarter. HB Wealth Management LLC now owns 107,938 shares of the company’s stock worth $19,180,000 after acquiring an additional 12,036 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade 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 can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Wells Fargo & Company upped their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Guggenheim raised their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

View Our Latest Stock Report on AbbVie

AbbVie Trading Down 1.3 %

ABBV stock opened at $171.49 on Friday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The business’s 50-day moving average is $175.78 and its 200 day moving average is $184.60. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

About AbbVie

(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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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