DeDora Capital Inc. Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

DeDora Capital Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the 4th quarter, Holdings Channel reports. The fund owned 18,132 shares of the company’s stock after selling 674 shares during the quarter. AbbVie accounts for 1.0% of DeDora Capital Inc.’s holdings, making the stock its 25th largest holding. DeDora Capital Inc.’s holdings in AbbVie were worth $2,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. VitalStone Financial LLC grew its position in AbbVie by 218.4% in the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after acquiring an additional 166 shares in the last quarter. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie during the third quarter worth $36,000. PCA Investment Advisory Services Inc. purchased a new position in AbbVie in the second quarter valued at $38,000. True Wealth Design LLC acquired a new stake in AbbVie in the 4th quarter valued at about $39,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of AbbVie by 39.5% during 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 in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.9 %

NYSE ABBV traded up $1.62 on Thursday, hitting $181.97. 5,418,371 shares of the stock were exchanged, compared to its average volume of 5,696,566. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market capitalization of $322.21 billion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58. The company’s 50-day moving average price is $174.51 and its two-hundred day moving average price is $157.96.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.60 earnings per share. Research analysts predict that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.41%. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the company from $167.00 to $156.00 in a report on Monday, December 18th. Barclays upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. 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 report on Friday, March 22nd. Four equities 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 stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

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.