Collective Family Office LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Collective Family Office LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,335 shares of the company’s stock after selling 252 shares during the period. Collective Family Office LLC’s holdings in AbbVie were worth $1,126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth $28,000. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter worth about $26,000. Marquette Asset Management LLC bought a new position in AbbVie during the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. grew its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Truist Financial dropped their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 1.0 %

AbbVie stock traded down $1.83 during midday trading on Wednesday, hitting $177.70. 1,048,247 shares of the company’s stock were exchanged, compared to its average volume of 4,329,443. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $314.02 billion, a PE ratio of 61.70, a P/E/G ratio of 1.92 and a beta of 0.58. The firm has a 50-day moving average of $180.00 and a two-hundred day moving average of $184.42. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.69%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

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.