Ieq Capital LLC Cuts Position in AbbVie Inc. (NYSE:ABBV)

Ieq Capital LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,605 shares of the company’s stock after selling 35,104 shares during the period. Ieq Capital LLC’s holdings in AbbVie were worth $13,613,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ABBV. AMF Tjanstepension AB acquired a new stake in AbbVie in the 3rd quarter worth about $8,777,000. Swedbank AB boosted its holdings in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC boosted its holdings in AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after buying an additional 339 shares during the last quarter. Alexander Labrunerie & CO. Inc. acquired a new stake in AbbVie in the 3rd quarter worth about $216,000. Finally, FSC Wealth Advisors LLC boosted its holdings in AbbVie by 3.7% in the 3rd quarter. FSC Wealth Advisors LLC now owns 2,537 shares of the company’s stock worth $501,000 after buying an additional 91 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents 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 hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABBV shares. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, BMO Capital Markets lifted their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 0.5 %

Shares of NYSE ABBV opened at $197.30 on Thursday. The firm has a market cap 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 quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The business’s 50 day moving average is $179.67 and its two-hundred day moving average is $186.11.

AbbVie (NYSE:ABBV) last announced its 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the business posted $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid 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 3.32%. AbbVie’s payout ratio is currently 273.33%.

AbbVie 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.