Fiduciary Group LLC Has $3.83 Million Stake in AbbVie Inc. (NYSE:ABBV)

Fiduciary Group LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,695 shares of the company’s stock after selling 120 shares during the period. Fiduciary Group LLC’s holdings in AbbVie were worth $3,827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aspen Wealth Strategies LLC lifted its position in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares during the period. Marks Group Wealth Management Inc lifted its holdings in AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the period. Avion Wealth lifted its holdings in AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares during the period. White Pine Capital LLC boosted its position in AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after acquiring an additional 65 shares in the last quarter. Finally, First Bank & Trust grew its holdings in shares of AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 9,891 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $177.39, for a total transaction of $1,754,564.49. Following the completion of the sale, the executive vice president now directly owns 10,397 shares in the company, valued at approximately $1,844,323.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last three months. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

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

AbbVie Stock Down 4.6 %

ABBV stock traded down $7.67 during midday trading on Friday, hitting $159.62. The company’s stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The firm’s 50-day moving average is $174.59 and its 200-day moving average is $160.82. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a market cap of $282.63 billion, a PE ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared 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 3.88%. AbbVie’s dividend payout ratio is presently 183.98%.

AbbVie Company 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.