AbbVie Inc. (NYSE:ABBV) Shares Sold by Nelson Capital Management LLC

Nelson Capital Management LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 5.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,386 shares of the company’s stock after selling 1,296 shares during the period. Nelson Capital Management LLC’s holdings in AbbVie were worth $4,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in shares of AbbVie during the third quarter worth about $8,777,000. Swedbank AB increased its position in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC raised its stake in shares of AbbVie by 20.3% during 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 in the last quarter. Autumn Glory Partners LLC boosted its stake in shares of AbbVie by 30.3% in the third quarter. Autumn Glory Partners LLC now owns 12,488 shares of the company’s stock valued at $2,467,000 after buying an additional 2,903 shares in the last quarter. Finally, Old Port Advisors acquired a new stake in AbbVie in the third quarter valued at $222,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.1 %

NYSE:ABBV opened at $204.19 on Wednesday. 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 Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market capitalization of $360.46 billion, a PE ratio of 85.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The business’s 50-day moving average is $182.48 and its two-hundred day moving average is $186.61.

AbbVie (NYSE:ABBV) last announced its earnings results 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the company earned $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, Raymond James restated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.