AbbVie Inc. (NYSE:ABBV) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,500 shares of the company’s stock after selling 55 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in AbbVie were worth $1,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in shares of AbbVie during the 3rd quarter worth $8,777,000. Swedbank AB grew its position in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares during the period. Howard Capital Management Group LLC lifted its position in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after acquiring an additional 339 shares during the period. Country Club Bank boosted its stake in shares of AbbVie by 8.1% during the 3rd quarter. Country Club Bank now owns 10,890 shares of the company’s stock worth $2,121,000 after acquiring an additional 820 shares in the last quarter. Finally, Covenant Partners LLC grew its holdings in shares of AbbVie by 1.5% in the 3rd quarter. Covenant Partners LLC now owns 9,313 shares of the company’s stock worth $1,839,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $202.03 on Monday. The company has a market cap of $356.65 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The firm’s 50 day moving average is $181.25 and its two-hundred day moving average is $186.41. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period last year, the firm posted $2.79 earnings per share. Analysts expect 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. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value 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 approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.