Matrix Trust Co Has $2.05 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Matrix Trust Co lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,214 shares of the company’s stock after selling 88 shares during the quarter. AbbVie comprises about 0.5% of Matrix Trust Co’s portfolio, making the stock its 25th largest holding. Matrix Trust Co’s holdings in AbbVie were worth $2,048,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. DeDora Capital Inc. raised its stake in AbbVie by 5.0% in the 3rd quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock worth $2,803,000 after purchasing an additional 898 shares in the last quarter. Goldstein Advisors LLC increased its holdings in AbbVie by 11.9% in the 3rd quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock valued at $722,000 after buying an additional 514 shares during the period. SS&H Financial Advisors Inc. bought a new position in AbbVie in the 3rd quarter valued at about $7,748,000. Next Capital Management LLC bought a new position in AbbVie in the 3rd quarter valued at about $261,000. Finally, Opal Wealth Advisors LLC increased its holdings in AbbVie by 1.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock valued at $1,012,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 4.6 %

NYSE:ABBV traded down $7.67 during mid-day trading on Friday, hitting $159.62. 10,721,740 shares of the company’s stock were exchanged, compared to its average volume of 5,004,945. The company has a 50 day simple moving average of $174.59 and a 200-day simple moving average of $160.74. 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 fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the company earned $2.46 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date 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 (DPR) is currently 227.11%.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’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 transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ABBV shares. Raymond James raised 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. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays lifted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial lifted their price target on shares of 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

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.