Jacobi Capital Management LLC Has $5.86 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Jacobi Capital Management LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,969 shares of the company’s stock after selling 270 shares during the quarter. Jacobi Capital Management LLC’s holdings in AbbVie were worth $5,859,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. AMF Tjanstepension AB acquired a new stake in AbbVie in the third quarter worth $8,777,000. Swedbank AB lifted its stake in AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after acquiring an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of AbbVie in the third quarter valued at about $221,000. Finally, Baron Silver Stevens Financial Advisors LLC boosted its stake in AbbVie by 4.4% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,379 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $209.07 on Friday. The firm has a market capitalization of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. 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 12-month low of $153.58 and a 12-month high of $209.60. The firm has a 50-day moving average price of $184.42 and a 200-day moving average price of $186.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the company posted $2.79 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. AbbVie’s payout ratio is currently 273.33%.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Transactions at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’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 completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

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.