AbbVie Inc. (NYSE:ABBV) Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,070 shares of the company’s stock after selling 2,696 shares during the quarter. Kimelman & Baird LLC’s holdings in AbbVie were worth $5,521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at about $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABBV. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, UBS Group boosted 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. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $211.90 on Monday. The company has a fifty day simple moving average of $191.09 and a 200-day simple moving average of $188.05. AbbVie Inc. has a 12-month low of $153.58 and a 12-month 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 stock has a market cap of $374.07 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61.

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

AbbVie Dividend Announcement

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

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company’s stock.

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.