Excalibur Management Corp Sells 97 Shares of AbbVie Inc. (NYSE:ABBV)

Excalibur Management Corp trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,755 shares of the company’s stock after selling 97 shares during the quarter. AbbVie accounts for approximately 1.0% of Excalibur Management Corp’s investment portfolio, making the stock its 25th largest position. Excalibur Management Corp’s holdings in AbbVie were worth $2,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC increased its stake in AbbVie by 20.3% in the third 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 during the period. Principal Financial Group Inc. lifted its holdings in AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after buying an additional 273,078 shares in the last quarter. United Bank purchased a new stake in AbbVie in the 3rd quarter valued at about $217,000. Algert Global LLC bought a new position in AbbVie in the 3rd quarter worth about $1,436,000. Finally, Elios Financial Group Inc. purchased a new stake in shares of AbbVie in the third quarter valued at approximately $496,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABBV shares. Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity at AbbVie

In related news, 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 transaction of $6,070,159.30. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by insiders.

AbbVie Trading Down 3.8 %

Shares of ABBV stock opened at $201.12 on Wednesday. The company has a market capitalization of $355.05 billion, a P/E ratio of 83.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business’s 50 day moving average is $195.65 and its two-hundred day moving average is $188.78. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 quarter last year, the company earned $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.