AbbVie Inc. (NYSE:ABBV) Holdings Decreased by Bender Robert & Associates

Bender Robert & Associates reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 28.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,157 shares of the company’s stock after selling 3,727 shares during the period. AbbVie comprises about 0.4% of Bender Robert & Associates’ holdings, making the stock its 28th largest holding. Bender Robert & Associates’ holdings in AbbVie were worth $1,419,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie during the third quarter worth $36,000. PCA Investment Advisory Services Inc. acquired a new position in AbbVie in the 2nd quarter worth about $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $39,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $45,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Raymond James lifted their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets increased their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

AbbVie stock traded up $0.41 on Thursday, reaching $164.66. The company’s stock had a trading volume of 4,479,358 shares, compared to its average volume of 5,637,507. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap of $291.56 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 2.09 and a beta of 0.58. 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’s fifty day moving average price is $175.79 and its 200 day moving average price is $159.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

AbbVie 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.