AbbVie Inc. (NYSE:ABBV) Position Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,223,526 shares of the company’s stock after selling 557 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of AbbVie worth $217,421,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CFO4Life Group LLC increased its stake in shares of AbbVie by 7.1% during the fourth quarter. CFO4Life Group LLC now owns 3,197 shares of the company’s stock valued at $568,000 after acquiring an additional 212 shares during the period. Balboa Wealth Partners boosted its stake in AbbVie by 4.5% in the 4th quarter. Balboa Wealth Partners now owns 7,193 shares of the company’s stock worth $1,278,000 after purchasing an additional 308 shares during the period. Erste Asset Management GmbH boosted its stake in shares of AbbVie by 7.5% during the 4th quarter. Erste Asset Management GmbH now owns 139,949 shares of the company’s stock valued at $24,911,000 after buying an additional 9,765 shares during the period. Tredje AP fonden boosted its stake in shares of AbbVie by 2.2% during the 4th quarter. Tredje AP fonden now owns 749,458 shares of the company’s stock valued at $133,179,000 after buying an additional 16,338 shares during the period. Finally, Mascoma Wealth Management LLC lifted its stake in shares of AbbVie by 12.3% in the 4th quarter. Mascoma Wealth Management LLC now owns 797 shares of the company’s stock valued at $142,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.8 %

Shares of AbbVie stock opened at $211.80 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $373.91 billion, a PE ratio of 88.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The firm’s 50 day moving average is $189.84 and its 200 day moving average is $187.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business earned $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $211.45.

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.