Lindenwold Advisors INC Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Lindenwold Advisors INC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,412 shares of the company’s stock after selling 328 shares during the quarter. AbbVie makes up 1.5% of Lindenwold Advisors INC’s portfolio, making the stock its 20th biggest holding. Lindenwold Advisors INC’s holdings in AbbVie were worth $2,739,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABBV. Groupama Asset Managment lifted its stake in shares of AbbVie by 40.3% during 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 stake in AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter valued at $29,000. Promus Capital LLC bought a new stake in AbbVie during the 4th quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABBV. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last ninety days. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.3 %

AbbVie stock opened at $213.80 on Wednesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business’s 50-day simple moving average is $192.47 and its two-hundred day simple moving average is $188.31. The company has a market cap of $377.43 billion, a PE ratio of 89.08, a PEG ratio of 1.62 and a beta of 0.61. 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 earnings results on Friday, January 31st. The company reported $2.16 EPS 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 last year, the business earned $2.79 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.07%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 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.