AbbVie Inc. (NYSE:ABBV) Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,156 shares of the company’s stock after selling 56 shares during the period. Abacus Planning Group Inc.’s holdings in AbbVie were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Emerald Advisors LLC boosted its stake in shares of AbbVie by 9.0% in the fourth quarter. Emerald Advisors LLC now owns 3,735 shares of the company’s stock worth $664,000 after buying an additional 307 shares during the last quarter. Private Wealth Partners LLC boosted its position in AbbVie by 7.2% in the 4th quarter. Private Wealth Partners LLC now owns 156,794 shares of the company’s stock worth $27,862,000 after purchasing an additional 10,505 shares in the last quarter. TBH Global Asset Management LLC grew its stake in shares of AbbVie by 5.6% during the 4th quarter. TBH Global Asset Management LLC now owns 7,474 shares of the company’s stock worth $1,328,000 after purchasing an additional 399 shares during the period. Private Advisor Group LLC increased its holdings in shares of AbbVie by 72.8% during the 4th quarter. Private Advisor Group LLC now owns 477,337 shares of the company’s stock valued at $84,823,000 after purchasing an additional 201,178 shares in the last quarter. Finally, Good Life Advisors LLC lifted its stake in shares of AbbVie by 2.7% in the 4th quarter. Good Life Advisors LLC now owns 52,097 shares of the company’s stock valued at $9,258,000 after purchasing an additional 1,360 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABBV shares. Wells Fargo & Company lifted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial upped their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Guggenheim upped their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

NYSE:ABBV opened at $197.30 on Thursday. The company’s 50-day moving average is $179.67 and its two-hundred day moving average is $186.11. The firm has a market capitalization of $348.66 billion, a price-to-earnings ratio of 82.21, a PEG 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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the business earned $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.32%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.