Princeton Capital Management LLC Has $1.44 Million Position in AbbVie Inc. (NYSE:ABBV)

Princeton Capital Management LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,101 shares of the company’s stock after selling 826 shares during the period. Princeton Capital Management LLC’s holdings in AbbVie were worth $1,440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Howard Capital Management Group LLC boosted its position in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after purchasing an additional 273,078 shares in the last quarter. United Bank bought a new position in shares of AbbVie in the 3rd quarter valued at $217,000. Algert Global LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $1,436,000. Finally, Centaurus Financial Inc. lifted its position in shares of AbbVie by 16.8% during the 3rd quarter. Centaurus Financial Inc. now owns 8,319 shares of the company’s stock worth $1,643,000 after buying an additional 1,199 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABBV shares. Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Bank of America increased their price objective 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. Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa Capital Markets cut 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. Finally, Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Trading Down 0.4 %

NYSE ABBV opened at $209.25 on Tuesday. The stock has a market capitalization of $369.40 billion, a P/E ratio of 87.19, a P/E/G ratio of 1.62 and a beta of 0.61. The business has a 50 day simple moving average of $195.14 and a 200 day simple moving average of $188.73. 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 Inc. has a one year low of $153.58 and a one year high of $218.66.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade 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 this link. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in 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.