Roberts Glore & Co. Inc. IL Sells 552 Shares of AbbVie Inc. (NYSE:ABBV)

Roberts Glore & Co. Inc. IL lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,890 shares of the company’s stock after selling 552 shares during the period. AbbVie accounts for about 1.6% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 13th largest holding. Roberts Glore & Co. Inc. IL’s holdings in AbbVie were worth $5,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $214.55 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. The stock’s fifty day moving average is $187.63 and its 200 day moving average is $187.53. The stock has a market cap of $378.75 billion, a P/E ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. AbbVie’s dividend payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.