Neville Rodie & Shaw Inc. Has $17.17 Million Stake in AbbVie Inc. (NYSE:ABBV)

Neville Rodie & Shaw Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 4.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 96,630 shares of the company’s stock after selling 4,285 shares during the period. AbbVie comprises 1.3% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 22nd largest position. Neville Rodie & Shaw Inc.’s holdings in AbbVie were worth $17,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter worth about $28,000. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter worth about $26,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the third quarter worth about $39,000. Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the third quarter worth about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded up $0.36 during mid-day trading on Monday, hitting $181.58. 1,514,547 shares of the stock were exchanged, compared to its average volume of 3,281,367. The stock has a market capitalization of $320.88 billion, a price-to-earnings ratio of 63.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The firm’s 50-day simple moving average is $180.39 and its 200 day simple moving average is $184.31. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.95 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.61%. AbbVie’s payout ratio is currently 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets decreased their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America reiterated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.70.

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.