AbbVie Inc. (NYSE:ABBV) Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 127,149 shares of the company’s stock after selling 7,570 shares during the period. AbbVie accounts for about 0.9% of Level Four Advisory Services LLC’s portfolio, making the stock its 19th largest position. Level Four Advisory Services LLC’s holdings in AbbVie were worth $22,595,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Groupama Asset Managment grew its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC acquired a new position in AbbVie in the fourth quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s 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 sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. Raymond James restated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Up 0.7 %

AbbVie stock opened at $202.79 on Friday. The stock’s 50 day moving average price is $196.83 and its 200 day moving average price is $188.96. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a market cap of $357.99 billion, a PE ratio of 84.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 business earned $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given 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 dividend yield of 3.23%. AbbVie’s payout ratio is 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.