Meeder Advisory Services Inc. Sells 138 Shares of AbbVie Inc. (NYSE:ABBV)

Meeder Advisory Services Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 38,984 shares of the company’s stock after selling 138 shares during the quarter. Meeder Advisory Services Inc.’s holdings in AbbVie were worth $6,928,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter worth approximately $32,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm’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 transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. 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 company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABBV shares. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, UBS Group increased their price target 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. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Down 1.6 %

NYSE ABBV opened at $206.08 on Wednesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $364.55 billion, a PE ratio of 85.87, a P/E/G ratio of 1.62 and a beta of 0.61. The stock’s 50 day moving average is $198.94 and its 200 day moving average is $189.11.

AbbVie (NYSE:ABBV) last released 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.31 EPS 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 dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) 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.