Cable Hill Partners LLC Sells 444 Shares of AbbVie Inc. (NYSE:ABBV)

Cable Hill Partners LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 11.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,538 shares of the company’s stock after selling 444 shares during the period. Cable Hill Partners LLC’s holdings in AbbVie were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In related 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Down 0.5 %

Shares of AbbVie stock opened at $203.08 on Thursday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company’s 50 day moving average price is $183.08 and its 200-day moving average price is $186.72. The stock has a market capitalization of $358.51 billion, a price-to-earnings ratio of 84.62, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly 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 prior year, the business posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued 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 3.23%. AbbVie’s dividend payout ratio is presently 273.33%.

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.