AbbVie Inc. (NYSE:ABBV) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,435,130 shares of the company’s stock after selling 12,887 shares during the period. AbbVie comprises approximately 0.6% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 22nd biggest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in AbbVie were worth $255,023,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Florida Financial Advisors LLC increased its stake in AbbVie by 48.6% in the 4th quarter. Florida Financial Advisors LLC now owns 2,971 shares of the company’s stock worth $528,000 after purchasing an additional 971 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in AbbVie by 9.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 215,333 shares of the company’s stock valued at $38,265,000 after buying an additional 19,051 shares in the last quarter. Bay Capital Advisors LLC acquired a new position in shares of AbbVie in the fourth quarter worth about $556,000. PKS Advisory Services LLC purchased a new position in shares of AbbVie in the fourth quarter worth approximately $684,000. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of AbbVie by 5.9% during the fourth quarter. Prestige Wealth Management Group LLC now owns 4,368 shares of the company’s stock valued at $776,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value 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. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABBV shares. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Price Performance

NYSE ABBV opened at $209.25 on Tuesday. The firm has a market cap of $369.40 billion, a P/E ratio of 87.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock’s 50-day moving average is $195.14 and its two-hundred day moving average is $188.73. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company earned $2.79 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.14%. AbbVie’s payout ratio is presently 273.33%.

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.