Lbp Am Sa Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Lbp Am Sa cut its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,179 shares of the company’s stock after selling 1,059 shares during the period. Lbp Am Sa’s holdings in AbbVie were worth $29,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth $29,000. Promus Capital LLC acquired a new position in AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter worth $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV stock opened at $211.19 on Friday. The stock’s 50-day moving average is $190.48 and its two-hundred day moving average is $188.06. The firm has a market cap of $372.83 billion, a price-to-earnings ratio of 88.00, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business posted $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Bank of America upped their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last quarter. 0.25% of the stock is currently owned by insiders.

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.