Xponance Inc. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Xponance Inc. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 338,874 shares of the company’s stock after selling 631 shares during the quarter. AbbVie makes up 0.5% of Xponance Inc.’s holdings, making the stock its 24th biggest position. Xponance Inc.’s holdings in AbbVie were worth $60,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of AbbVie by 35.9% during the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after buying an additional 1,503,875 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of AbbVie by 7.9% in the 4th quarter. Intech Investment Management LLC now owns 217,849 shares of the company’s stock worth $38,712,000 after buying an additional 15,976 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of AbbVie in the 4th quarter worth $19,290,000. Evoke Wealth LLC increased its holdings in shares of AbbVie by 12.8% in the 4th quarter. Evoke Wealth LLC now owns 22,482 shares of the company’s stock worth $3,995,000 after buying an additional 2,556 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in shares of AbbVie by 3.0% in the 4th quarter. Horizon Investments LLC now owns 21,161 shares of the company’s stock worth $3,725,000 after buying an additional 617 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie 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 owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock valued at $11,067,025 over the last ninety days. 0.25% of the stock is owned by insiders.

AbbVie Trading Up 1.3 %

AbbVie stock opened at $214.45 on Tuesday. The stock has a market cap of $378.57 billion, a P/E ratio of 89.35, a PEG 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 Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm’s 50 day moving average price is $191.78 and its 200-day moving average price is $188.18.

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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm posted $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.06%. AbbVie’s dividend payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average 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.