AbbVie Inc. (NYSE:ABBV) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 30,865 shares of the company’s stock after selling 409 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in AbbVie were worth $5,485,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.3 %

Shares of AbbVie stock opened at $211.54 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a market capitalization of $373.44 billion, a PE ratio of 88.14, a P/E/G ratio of 1.62 and a beta of 0.61. The firm’s 50-day moving average price is $193.80 and its 200 day moving average price is $188.64.

AbbVie (NYSE:ABBV) last announced its 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 net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the firm posted $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS 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 paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business’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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday. Piper Sandler raised their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.