Indie Asset Partners LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,779 shares of the company’s stock after selling 2,462 shares during the period. Indie Asset Partners LLC’s holdings in AbbVie were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Crestwood Advisors Group LLC increased its holdings in shares of AbbVie by 8.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 11,479 shares of the company’s stock valued at $1,230,000 after purchasing an additional 898 shares during the period. AllSquare Wealth Management LLC boosted its position in AbbVie by 21.7% in the fourth quarter. AllSquare Wealth Management LLC now owns 2,873 shares of the company’s stock valued at $308,000 after buying an additional 512 shares during the last quarter. Sigma Planning Corp boosted its position in AbbVie by 3.0% in the fourth quarter. Sigma Planning Corp now owns 121,470 shares of the company’s stock valued at $13,016,000 after buying an additional 3,554 shares during the last quarter. Pillar Pacific Capital Management LLC increased its holdings in AbbVie by 0.6% in the 4th quarter. Pillar Pacific Capital Management LLC now owns 75,116 shares of the company’s stock worth $8,049,000 after buying an additional 421 shares during the period. Finally, Stanley Laman Group Ltd. raised its position in AbbVie by 34.8% during the 4th quarter. Stanley Laman Group Ltd. now owns 20,087 shares of the company’s stock worth $2,152,000 after buying an additional 5,189 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors.
In other news, EVP Jeffrey Ryan Stewart sold 25,290 shares of the stock in a transaction that occurred on Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total value of $2,655,450.00. Following the completion of the sale, the executive vice president now owns 76,259 shares of the company’s stock, valued at approximately $8,007,195. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 51,990 shares of the stock in a transaction that occurred on Friday, November 27th. The shares were sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the completion of the sale, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at approximately $5,458,950. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by corporate insiders.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Tuesday, February 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the company earned $2.21 EPS. AbbVie’s revenue was up 59.2% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 annualized dividend and a yield of 4.90%. AbbVie’s dividend payout ratio is presently 58.17%.
A number of analysts have recently weighed in on ABBV shares. Mizuho increased their price objective on shares of AbbVie from $117.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink upped their price objective on shares of AbbVie from $128.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Tuesday, February 9th. Morgan Stanley decreased their price objective on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $114.39.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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