Financial Engines Advisors L.L.C. Sells 219 Shares of AbbVie Inc. (NYSE:ABBV)

Financial Engines Advisors L.L.C. reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 77,875 shares of the company’s stock after selling 219 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in AbbVie were worth $13,838,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ABBV. Howard Capital Management Group LLC raised its stake 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 buying an additional 339 shares during the last quarter. Principal Financial Group Inc. raised its position 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 worth $491,204,000 after acquiring an additional 273,078 shares in the last quarter. United Bank acquired a new position in shares of AbbVie in the 3rd quarter valued at about $217,000. Algert Global LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $1,436,000. Finally, Elios Financial Group Inc. acquired a new stake in AbbVie during the third quarter worth approximately $496,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 3.8 %

Shares of ABBV stock opened at $201.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $355.05 billion, a P/E ratio of 83.80, a PEG ratio of 1.62 and a beta of 0.61. The company has a 50 day moving average of $195.65 and a 200-day moving average of $188.78. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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 given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. AbbVie’s dividend payout ratio is presently 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Bank of America lifted their price target 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. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie 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 completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 over the last quarter. 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.