Quadrant Capital Group LLC Sells 584 Shares of AbbVie Inc. (NYSE:ABBV)

Quadrant Capital Group LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 34,529 shares of the company’s stock after selling 584 shares during the quarter. AbbVie accounts for approximately 0.4% of Quadrant Capital Group LLC’s holdings, making the stock its 29th biggest holding. Quadrant Capital Group LLC’s holdings in AbbVie were worth $6,136,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in AbbVie during the fourth quarter valued at $29,000. Promus Capital LLC bought a new stake in AbbVie in the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 7.5 %

NYSE:ABBV opened at $186.58 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The business has a fifty day moving average price of $200.61 and a 200-day moving average price of $189.21. The firm has a market capitalization of $330.06 billion, a price-to-earnings ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 prior year, the company posted $2.79 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. AbbVie’s payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Finally, UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.45.

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.