BOK Financial Private Wealth Inc. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

BOK Financial Private Wealth Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBVGet Rating) by 45.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,258 shares of the company’s stock after selling 2,686 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in AbbVie were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Arrowstreet Capital Limited Partnership increased its holdings in shares of AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock worth $754,155,000 after purchasing an additional 3,768,579 shares in the last quarter. GQG Partners LLC increased its holdings in shares of AbbVie by 1,706.1% in the 2nd quarter. GQG Partners LLC now owns 3,051,620 shares of the company’s stock worth $467,658,000 after purchasing an additional 2,882,655 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of AbbVie in the third quarter worth $200,815,000. Deutsche Bank AG grew its holdings in shares of AbbVie by 22.1% in the second quarter. Deutsche Bank AG now owns 6,616,442 shares of the company’s stock worth $1,013,377,000 after acquiring an additional 1,198,823 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of AbbVie by 754.0% in the third quarter. Pacer Advisors Inc. now owns 1,210,806 shares of the company’s stock worth $162,502,000 after acquiring an additional 1,069,033 shares during the period. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Insider Activity

In other news, EVP Timothy J. Richmond sold 42,370 shares of AbbVie stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the sale, the executive vice president now owns 13,837 shares of the company’s stock, valued at approximately $2,261,519.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.6 %

ABBV opened at $147.69 on Wednesday. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.93 and a quick ratio of 0.83. The company’s 50 day simple moving average is $159.47 and its two-hundred day simple moving average is $149.22. AbbVie Inc. has a 1-year low of $130.79 and a 1-year high of $175.91. The firm has a market capitalization of $261.19 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.10. The business had revenue of $14.81 billion for the quarter, compared to analyst estimates of $14.95 billion. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $3.33 EPS. Analysts expect that AbbVie Inc. will post 13.89 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, January 12th. This is a positive change from AbbVie’s previous quarterly dividend of $1.41. AbbVie’s payout ratio is presently 79.04%.

Wall Street Analyst Weigh In

Several analysts recently commented on ABBV shares. Societe Generale lowered AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the stock from $155.00 to $140.00 in a report on Tuesday, November 8th. BMO Capital Markets lowered their price objective on AbbVie from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st. Truist Financial boosted their target price on AbbVie from $160.00 to $180.00 in a research report on Thursday, January 5th. SVB Leerink decreased their target price on AbbVie from $140.00 to $135.00 and set an “underperform” rating on the stock in a research report on Friday, September 30th. Finally, Barclays reduced their price objective on AbbVie from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Hold” and an average target price of $160.56.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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