Fiduciary Group LLC Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Fiduciary Group LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,895 shares of the company’s stock after selling 292 shares during the quarter. Fiduciary Group LLC’s holdings in AbbVie were worth $4,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Charles Schwab Investment Management Inc. grew its position in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. FMR LLC grew its position in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after buying an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after purchasing an additional 373,802 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s 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 directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 in the last ninety days. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 0.8 %

NYSE ABBV opened at $212.21 on Thursday. The company has a market cap of $374.62 billion, a price-to-earnings ratio of 88.42, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The business has a 50 day moving average price of $193.14 and a 200-day moving average price of $188.48. 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 (NYSE:ABBV) last posted 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 firm posted $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.09%. AbbVie’s dividend payout ratio is currently 273.33%.

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.