US Bancorp DE Sells 24,245 Shares of AbbVie Inc. (NYSE:ABBV)

US Bancorp DE reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,508,765 shares of the company’s stock after selling 24,245 shares during the quarter. US Bancorp DE owned 0.14% of AbbVie worth $445,809,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment increased its stake in 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 acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie in the 4th quarter worth about $35,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABBV. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on 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 completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on 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 of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 in the last quarter. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of ABBV stock opened at $209.07 on Friday. The firm has a market cap of $369.09 billion, a P/E ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $209.60. The business’s 50 day moving average price is $184.42 and its 200-day moving average price is $186.98. 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 released 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the firm posted $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

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.