Rogco LP Sells 385 Shares of AbbVie Inc. (NYSE:ABBV)

Rogco LP lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,747 shares of the company’s stock after selling 385 shares during the period. Rogco LP’s holdings in AbbVie were worth $1,377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pathway Financial Advisors LLC raised its holdings in AbbVie by 3.2% in the 4th quarter. Pathway Financial Advisors LLC now owns 3,182 shares of the company’s stock worth $565,000 after purchasing an additional 100 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its position in AbbVie by 34.9% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 15,247 shares of the company’s stock worth $2,709,000 after purchasing an additional 3,947 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in AbbVie by 0.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 39,317 shares of the company’s stock valued at $6,987,000 after purchasing an additional 174 shares during the last quarter. Valmark Advisers Inc. grew its stake in shares of AbbVie by 14.0% in the 4th quarter. Valmark Advisers Inc. now owns 8,527 shares of the company’s stock worth $1,515,000 after buying an additional 1,044 shares in the last quarter. Finally, MOKAN Wealth Management Inc. bought a new stake in shares of AbbVie in the 4th quarter worth about $2,849,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

ABBV stock opened at $193.00 on Monday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The business has a 50-day moving average price of $178.93 and a 200 day moving average price of $186.03. The company has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued 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 3.40%. AbbVie’s dividend payout ratio is presently 273.33%.

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.