AbbVie Inc. (NYSE:ABBV) Shares Sold by Ellevest Inc.

Ellevest Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,487 shares of the company’s stock after selling 207 shares during the quarter. Ellevest Inc.’s holdings in AbbVie were worth $442,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in AbbVie in the 4th quarter valued at about $4,459,385,000. Raymond James Financial Inc. purchased a new position in AbbVie in the fourth quarter valued at about $1,190,951,000. FMR LLC grew its stake in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 over the last three months. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $184.30 on Friday. The company has a 50-day simple moving average of $194.23 and a 200 day simple moving average of $187.23. The company has a market capitalization of $326.02 billion, a P/E ratio of 76.79, a PEG ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the firm posted $2.31 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.56%. AbbVie’s dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.41.

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.