AbbVie Inc. (NYSE:ABBV) Shares Sold by Duncker Streett & Co. Inc.

Duncker Streett & Co. Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,589 shares of the company’s stock after selling 311 shares during the quarter. AbbVie makes up approximately 1.5% of Duncker Streett & Co. Inc.’s investment portfolio, making the stock its 14th largest position. Duncker Streett & Co. Inc.’s holdings in AbbVie were worth $7,923,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ABBV. Swedbank AB raised its stake in shares of 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 buying 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 during the period. Lowe Brockenbrough & Co. Inc. raised its stake in shares of AbbVie by 15.9% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 31,274 shares of the company’s stock worth $6,176,000 after buying an additional 4,299 shares during the period. Weatherly Asset Management L. P. raised its stake in shares of AbbVie by 13.0% during the 3rd quarter. Weatherly Asset Management L. P. now owns 10,010 shares of the company’s stock worth $1,977,000 after buying an additional 1,152 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in AbbVie by 18.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 23,263 shares of the company’s stock valued at $4,594,000 after purchasing an additional 3,542 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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 disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock worth $11,377,057 in the last three months. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $209.07 on Friday. The stock has a market cap of $369.09 billion, a PE ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $209.60. The stock has a fifty day simple moving average of $184.42 and a 200-day simple moving average of $186.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.