Shelton Capital Management Sells 4,200 Shares of AbbVie Inc. (NYSE:ABBV)

Shelton Capital Management cut its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 5.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 66,571 shares of the company’s stock after selling 4,200 shares during the period. Shelton Capital Management’s holdings in AbbVie were worth $9,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Moneta Group Investment Advisors LLC raised its position in shares of AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares in the last quarter. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $3,033,348,000. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after acquiring an additional 6,012,281 shares during the period. Morgan Stanley grew its holdings in shares of AbbVie by 17.9% during the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after purchasing an additional 4,785,277 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of AbbVie by 426.5% in the first 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 during the period. Institutional investors own 67.86% of the company’s stock.

AbbVie Trading Up 1.4 %

Shares of NYSE ABBV traded up $2.40 during trading hours on Friday, hitting $178.45. The company’s stock had a trading volume of 2,524,764 shares, compared to its average volume of 5,247,013. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $179.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The business has a 50-day simple moving average of $167.02 and a 200-day simple moving average of $153.87. The stock has a market cap of $315.23 billion, a price-to-earnings ratio of 64.33, a P/E/G ratio of 2.26 and a beta of 0.57.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the business earned $3.60 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 11.14 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.47%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Monday, December 11th. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of AbbVie in a research note on Thursday, November 9th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Barclays boosted their price target on AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $175.36.

Read Our Latest Analysis on ABBV

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 2,912 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $8,649,312.16. The disclosure for this sale can be found here. Insiders have sold 69,535 shares of company stock worth $12,075,887 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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