IFG Advisors LLC Cuts Position in AbbVie Inc. (NYSE:ABBV)

IFG Advisors LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,900 shares of the company’s stock after selling 306 shares during the period. IFG Advisors LLC’s holdings in AbbVie were worth $871,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC grew its holdings in shares of AbbVie by 5.1% in the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 2,509 shares of the company’s stock valued at $446,000 after acquiring an additional 122 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of AbbVie by 18.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 22,718 shares of the company’s stock valued at $4,003,000 after acquiring an additional 3,489 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of AbbVie by 16.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,612 shares of the company’s stock valued at $286,000 after acquiring an additional 224 shares in the last quarter. Purkiss Capital Advisors LLC bought a new position in AbbVie during the fourth quarter valued at $582,000. Finally, Keynote Financial Services LLC grew its holdings in AbbVie by 0.6% during the fourth quarter. Keynote Financial Services LLC now owns 40,999 shares of the company’s stock valued at $7,286,000 after purchasing an additional 246 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ABBV. Citigroup increased their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued 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 price target of $208.35.

AbbVie Trading Up 2.0 %

Shares of ABBV stock opened at $209.07 on Friday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $209.60. The company has a market capitalization of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The business’s fifty day moving average is $184.42 and its 200 day moving average is $186.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.