Quadrant Capital Group LLC Sells 584 Shares of AbbVie Inc. (NYSE:ABBV)

Quadrant Capital Group LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,529 shares of the company’s stock after selling 584 shares during the period. AbbVie accounts for approximately 0.4% of Quadrant Capital Group LLC’s investment portfolio, making the stock its 29th biggest holding. Quadrant Capital Group LLC’s holdings in AbbVie were worth $6,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of AbbVie by 29.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 277,500 shares of the company’s stock valued at $49,312,000 after buying an additional 63,500 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in AbbVie by 3.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,189,286 shares of the company’s stock valued at $211,257,000 after purchasing an additional 38,684 shares during the last quarter. Rahlfs Capital LLC bought a new stake in AbbVie during the 4th quarter worth approximately $1,335,000. Hurley Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $139,000. Finally, Perennial Investment Advisors LLC lifted its holdings in shares of AbbVie by 15.8% in the fourth quarter. Perennial Investment Advisors LLC now owns 3,882 shares of the company’s stock valued at $690,000 after purchasing an additional 530 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 7.5 %

AbbVie stock opened at $186.58 on Friday. The firm has a market capitalization of $330.06 billion, a price-to-earnings ratio of 77.74, a P/E/G ratio of 1.62 and a beta of 0.61. The firm has a 50 day simple moving average of $200.61 and a 200 day simple moving average of $189.21. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

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

AbbVie Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 over the last three months. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.45.

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.