AbbVie Inc. (NYSE:ABBV) Stock Position Lessened by Skba Capital Management LLC

Skba Capital Management LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,019 shares of the company’s stock after selling 500 shares during the quarter. Skba Capital Management LLC’s holdings in AbbVie were worth $892,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $29,000. Promus Capital LLC bought a new stake in AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in AbbVie during the 4th quarter valued at $35,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the 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 transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction 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 of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $205.12 on Monday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market capitalization of $362.85 billion, a price-to-earnings ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. The business’s 50-day moving average is $197.50 and its 200-day moving average is $188.91. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week 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 quarter in the previous year, the company posted $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 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 3.20%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research 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 MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $211.45.

About AbbVie

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.