Patten Group Inc. Has $256,000 Stake in AbbVie Inc. (NYSE:ABBV)

Patten Group Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,441 shares of the company’s stock after selling 149 shares during the quarter. Patten Group Inc.’s holdings in AbbVie were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Swedbank AB lifted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares in the last quarter. Moloney Securities Asset Management LLC lifted its holdings in shares of AbbVie by 2.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,345 shares of the company’s stock worth $4,413,000 after purchasing an additional 554 shares in the last quarter. Alterna Wealth Management Inc. bought a new position in shares of AbbVie in the 3rd quarter worth $209,000. Finally, FSM Wealth Advisors LLC lifted its holdings in shares of AbbVie by 3.0% in the 3rd quarter. FSM Wealth Advisors LLC now owns 5,232 shares of the company’s stock worth $1,033,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.6 %

NYSE ABBV opened at $208.12 on Wednesday. The stock has a market capitalization of $367.40 billion, a price-to-earnings ratio of 86.72, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business’s fifty day moving average is $185.64 and its 200-day moving average is $187.14.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 previous year, the business posted $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed 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. This represents a $6.56 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.95.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie 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 directly 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. In the last 90 days, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by insiders.

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.