SNS Financial Group LLC Sells 116 Shares of AbbVie Inc. (NYSE:ABBV)

SNS Financial Group LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,262 shares of the company’s stock after selling 116 shares during the period. SNS Financial Group LLC’s holdings in AbbVie were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ABBV. International Assets Investment Management LLC lifted its holdings in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. State Street Corp lifted its stake in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after buying an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after buying an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp grew its stake in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABBV shares. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Five investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Price Performance

AbbVie stock opened at $197.30 on Thursday. The stock’s 50 day moving average price is $179.67 and its two-hundred day moving average price is $186.11. The stock has a market capitalization of $348.66 billion, a price-to-earnings ratio of 82.21, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.