AbbVie Inc. (NYSE:ABBV) Stock Holdings Trimmed by Delta Financial Group Inc.

Delta Financial Group Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,689 shares of the company’s stock after selling 90 shares during the quarter. Delta Financial Group Inc.’s holdings in AbbVie were worth $1,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $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.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

NYSE ABBV opened at $202.03 on Friday. The stock has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The business’s fifty day moving average is $181.25 and its two-hundred day moving average is $186.42. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced its earnings results 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 last year, the company earned $2.79 EPS. On average, research analysts forecast 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. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

About AbbVie

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.