Sigma Investment Counselors Inc. Sells 347 Shares of AbbVie Inc. (NYSE:ABBV)

Sigma Investment Counselors Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 38,992 shares of the company’s stock after selling 347 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in AbbVie were worth $6,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Groupama Asset Managment increased its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. 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 note on Thursday, December 5th. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction 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. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.6 %

NYSE ABBV opened at $202.03 on Friday. The business’s 50-day moving average price is $181.25 and its two-hundred day moving average price is $186.42. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market capitalization of $356.64 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm earned $2.79 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie’s dividend payout ratio (DPR) 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.