Lmcg Investments LLC Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Lmcg Investments LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,256 shares of the company’s stock after selling 4,592 shares during the quarter. AbbVie comprises 1.8% of Lmcg Investments LLC’s portfolio, making the stock its 8th largest holding. Lmcg Investments LLC’s holdings in AbbVie were worth $29,721,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter valued at about $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ABBV shares. Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler boosted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Five research 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 stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Stock Up 0.5 %

NYSE:ABBV opened at $172.41 on Wednesday. The business’s fifty day moving average price is $175.72 and its 200 day moving average price is $184.80. The firm has a market capitalization of $304.67 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Insider Activity

In other 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 transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

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.