Schroder Investment Management Group Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Schroder Investment Management Group lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,426,105 shares of the company’s stock after selling 235,739 shares during the period. Schroder Investment Management Group’s holdings in AbbVie were worth $431,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $35,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of AbbVie in the 4th quarter worth approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. 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. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 1.2 %

NYSE ABBV opened at $205.12 on Friday. The business has a fifty day moving average price of $197.50 and a 200 day moving average price of $188.95. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $362.85 billion, a P/E ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $2.79 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. AbbVie’s payout ratio is 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.