KCM Investment Advisors LLC Sells 719 Shares of AbbVie Inc. (NYSE:ABBV)

KCM Investment Advisors LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 78,073 shares of the company’s stock after selling 719 shares during the quarter. KCM Investment Advisors LLC’s holdings in AbbVie were worth $13,874,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. bought a new stake in AbbVie during the fourth quarter worth $97,148,000. Pioneer Trust Bank N A OR raised its holdings in shares of AbbVie by 16.1% during the 4th quarter. Pioneer Trust Bank N A OR now owns 4,730 shares of the company’s stock worth $841,000 after buying an additional 655 shares in the last quarter. Orion Investment Co lifted its position in shares of AbbVie by 6.7% during the 4th quarter. Orion Investment Co now owns 6,146 shares of the company’s stock worth $1,092,000 after buying an additional 388 shares during the last quarter. Smith Moore & CO. boosted its stake in AbbVie by 0.3% in the fourth quarter. Smith Moore & CO. now owns 30,251 shares of the company’s stock valued at $5,376,000 after buying an additional 88 shares in the last quarter. Finally, Pinpoint Asset Management Ltd grew its position in AbbVie by 49.5% in the fourth quarter. Pinpoint Asset Management Ltd now owns 18,483 shares of the company’s stock valued at $3,284,000 after acquiring an additional 6,123 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated 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 $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % 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 in the last quarter. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of NYSE ABBV opened at $186.58 on Friday. The company has a market capitalization of $330.06 billion, a PE ratio of 77.74, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a fifty day simple moving average of $200.61 and a 200 day simple moving average of $189.24.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 business earned $2.79 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

ABBV has been the topic of a number of research analyst reports. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.