AbbVie Inc. (NYSE:ABBV) Shares Sold by Steph & Co.

Steph & Co. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,685 shares of the company’s stock after selling 119 shares during the period. Steph & Co.’s holdings in AbbVie were worth $416,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ABBV. Hibernia Wealth Partners LLC purchased a new stake in AbbVie during the third quarter worth approximately $36,000. PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie during the 2nd quarter valued at $38,000. True Wealth Design LLC purchased a new stake in AbbVie during the 4th quarter worth $39,000. Blue Bell Private Wealth Management LLC raised its position in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Finally, Horrell Capital Management Inc. purchased a new position in AbbVie in the third quarter valued at about $45,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of ABBV stock traded up $1.71 on Wednesday, hitting $164.25. 3,985,244 shares of the stock traded hands, compared to its average volume of 5,642,252. The company’s fifty day moving average is $176.01 and its 200 day moving average is $159.91. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a market capitalization of $290.83 billion, a PE ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 11.12 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.