St. Johns Investment Management Company LLC Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

St. Johns Investment Management Company LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,993 shares of the company’s stock after selling 82 shares during the period. St. Johns Investment Management Company LLC’s holdings in AbbVie were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.4 %

Shares of ABBV opened at $170.05 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. 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 firm has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. The firm’s 50-day moving average is $175.74 and its two-hundred day moving average is $184.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $2.95 EPS. On average, research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 227.78%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Finally, Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.50.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company 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.