AbbVie Inc. (NYSE:ABBV) Position Decreased by SP Asset Management LLC

SP Asset Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 225,335 shares of the company’s stock after selling 640 shares during the quarter. AbbVie comprises about 3.4% of SP Asset Management LLC’s portfolio, making the stock its 7th largest holding. SP Asset Management LLC’s holdings in AbbVie were worth $40,042,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.9 %

NYSE:ABBV opened at $211.61 on Thursday. The stock has a fifty day moving average price of $186.27 and a two-hundred day moving average price of $187.31. The stock has a market capitalization of $373.57 billion, a price-to-earnings ratio of 88.17, a PEG ratio of 1.62 and a beta of 0.58. 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 1 year low of $153.58 and a 1 year high of $215.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (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 previous year, the firm posted $2.79 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Piper Sandler increased their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” 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 two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.