AbbVie Inc. (NYSE:ABBV) Stake Cut by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 95,078 shares of the company’s stock after selling 2,245 shares during the period. AbbVie accounts for approximately 1.8% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Asset Advisors Investment Management LLC’s holdings in AbbVie were worth $16,895,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ABBV. Groupama Asset Managment raised its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie during the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

AbbVie Trading Up 0.6 %

Shares of ABBV opened at $202.03 on Monday. The stock’s 50-day moving average price is $181.25 and its 200 day moving average price is $186.41. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $356.65 billion, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm earned $2.79 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ABBV shares. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.