AbbVie Inc. (NYSE:ABBV) Stock Position Reduced by Monarch Capital Management Inc.

Monarch Capital Management Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,264 shares of the company’s stock after selling 1,185 shares during the period. AbbVie comprises approximately 2.5% of Monarch Capital Management Inc.’s holdings, making the stock its 9th largest position. Monarch Capital Management Inc.’s holdings in AbbVie were worth $8,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VitalStone Financial LLC lifted its stake in AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after acquiring an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC acquired a new stake in AbbVie in the third quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. acquired a new stake in AbbVie in the second quarter valued at approximately $38,000. True Wealth Design LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $39,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABBV. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective for the company in a research note on Monday, December 11th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.71.

View Our Latest Report on AbbVie

AbbVie Stock Performance

AbbVie stock traded up $0.67 on Tuesday, hitting $179.20. The company’s stock had a trading volume of 4,392,374 shares, compared to its average volume of 5,711,853. The firm has a market cap of $317.30 billion, a P/E ratio of 65.64, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a fifty day moving average price of $173.79 and a 200-day moving average price of $157.59. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 owned by insiders.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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