AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Phocas Financial Corp.

Phocas Financial Corp. lessened its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,344 shares of the company’s stock after selling 756 shares during the period. Phocas Financial Corp.’s holdings in AbbVie were worth $5,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. O Dell Group LLC raised its stake in shares of AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 100 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after buying an additional 93 shares in the last quarter. Align Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth $27,000. Activest Wealth Management bought a new stake in shares of AbbVie in the 3rd quarter worth $31,000. Finally, Clear Perspectives Financial Planning LLC bought a new stake in shares of AbbVie in the 3rd quarter worth $33,000. Institutional investors own 67.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their target price on AbbVie from $160.00 to $180.00 in a research report on Thursday, January 5th. SVB Securities raised AbbVie from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $135.00 to $153.00 in a research report on Friday, February 10th. StockNews.com lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. BMO Capital Markets cut their target price on AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. Finally, Wolfe Research lowered AbbVie from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $161.12.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $149.53, for a total value of $3,738,250.00. Following the transaction, the executive vice president now owns 233,208 shares in the company, valued at $34,871,592.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $149.53, for a total transaction of $3,738,250.00. Following the completion of the sale, the executive vice president now owns 233,208 shares in the company, valued at approximately $34,871,592.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Elaine K. Sorg sold 15,003 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total value of $2,325,465.00. Following the sale, the senior vice president now owns 42,829 shares of the company’s stock, valued at approximately $6,638,495. The disclosure for this sale can be found here. Insiders have sold 159,746 shares of company stock worth $24,267,450 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.7 %

NYSE ABBV traded down $1.08 on Friday, reaching $154.22. The stock had a trading volume of 42,756,434 shares, compared to its average volume of 6,742,032. The business has a 50 day moving average price of $151.13 and a 200 day moving average price of $150.82. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 3.42. AbbVie Inc. has a 1 year low of $134.09 and a 1 year high of $175.91. The company has a market capitalization of $272.88 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62.

AbbVie (NYSE:ABBV – Get Rating) last issued its earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. AbbVie had a return on equity of 154.52% and a net margin of 20.39%. The firm had revenue of $15.12 billion for the quarter, compared to the consensus estimate of $15.30 billion. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be paid a $1.48 dividend. The ex-dividend date is Thursday, April 13th. This represents a $5.92 dividend on an annualized basis and a yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is currently 89.56%.

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.