Autumn Glory Partners LLC Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Autumn Glory Partners LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 26.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,166 shares of the company’s stock after selling 3,322 shares during the quarter. Autumn Glory Partners LLC’s holdings in AbbVie were worth $1,629,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Kanawha Capital Management LLC grew its position in shares of AbbVie by 1.2% in the 4th quarter. Kanawha Capital Management LLC now owns 144,105 shares of the company’s stock worth $25,608,000 after buying an additional 1,673 shares during the last quarter. Campbell Wealth Management grew its position in shares of AbbVie by 97.6% in the 4th quarter. Campbell Wealth Management now owns 3,583 shares of the company’s stock worth $637,000 after buying an additional 1,770 shares during the last quarter. Asset Planning Inc bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $351,000. White Pine Capital LLC boosted its position in shares of AbbVie by 1.9% during the fourth quarter. White Pine Capital LLC now owns 5,773 shares of the company’s stock valued at $1,026,000 after purchasing an additional 110 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of AbbVie by 3.3% during the fourth quarter. V Square Quantitative Management LLC now owns 11,114 shares of the company’s stock valued at $1,975,000 after purchasing an additional 350 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.2 %

ABBV stock opened at $193.00 on Friday. The stock has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The business has a fifty day moving average price of $178.59 and a 200-day moving average price of $185.96.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 257.91%. During the same period in the previous year, the firm posted $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity at AbbVie

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ABBV shares. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Guggenheim lifted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.