Intact Investment Management Inc. Sells 1,800 Shares of AbbVie Inc. (NYSE:ABBV)

Intact Investment Management Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,600 shares of the company’s stock after selling 1,800 shares during the quarter. Intact Investment Management Inc.’s holdings in AbbVie were worth $11,251,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aspen Wealth Strategies LLC lifted its holdings in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the period. Marks Group Wealth Management Inc increased its stake in shares of AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares in the last quarter. Avion Wealth increased its stake in shares of AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares in the last quarter. White Pine Capital LLC increased its stake in shares of AbbVie by 1.2% in the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after buying an additional 65 shares in the last quarter. Finally, First Bank & Trust increased its stake in shares of AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after buying an additional 68 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays lifted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Trading Down 4.6 %

Shares of AbbVie stock traded down $7.67 during trading on Friday, hitting $159.62. 10,721,740 shares of the company were exchanged, compared to its average volume of 5,004,945. The firm has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm’s fifty day moving average price is $174.59 and its 200 day moving average price is $160.74. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 9,891 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $177.39, for a total value of $1,754,564.49. Following the sale, the executive vice president now owns 10,397 shares in the company, valued at approximately $1,844,323.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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.