Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 39.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 406,931 shares of the company’s stock after selling 263,502 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AbbVie were worth $63,062,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ABBV. Hibernia Wealth Partners LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $36,000. True Wealth Design LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $39,000. KB Financial Partners LLC acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $45,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $38,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. 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. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 0.5 %

NYSE ABBV traded up $0.87 during trading on Tuesday, hitting $162.54. The stock had a trading volume of 4,777,427 shares, compared to its average volume of 5,663,454. The company has a market capitalization of $287.80 billion, a PE ratio of 59.91, a PEG ratio of 2.07 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 firm has a 50 day moving average price of $176.23 and a 200 day moving average price of $159.81. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 11.11 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. BMO Capital Markets lifted their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. 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 research note on Tuesday, February 6th. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.