AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the 4th quarter, Holdings Channel reports. The fund owned 387,957 shares of the company’s stock after selling 17,757 shares during the period. AbbVie makes up approximately 3.1% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 4th biggest position. Berkshire Asset Management LLC PA’s holdings in AbbVie were worth $66,069,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABBV. Raymond James Financial Inc. purchased a new stake in AbbVie during the 4th quarter valued at $1,190,951,000. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the period. State Street Corp raised its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the period. Proficio Capital Partners LLC increased its stake in AbbVie by 26,693.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after purchasing an additional 1,172,362 shares during the period. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in AbbVie in the fourth quarter worth $186,431,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.4 %

Shares of NYSE:ABBV opened at $210.71 on Friday. The business has a 50-day moving average price of $186.90 and a 200-day moving average price of $187.47. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $371.98 billion, a price-to-earnings ratio of 87.80, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $215.66.

AbbVie (NYSE:ABBV) last announced its quarterly 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 period in the previous year, the firm earned $2.79 EPS. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Raymond James reissued an “outperform” rating and set a $220.00 price target (up previously 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 issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie 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 sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

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.