AbbVie Inc. (NYSE:ABBV) is Rodgers Brothers Inc.’s 4th Largest Position

Rodgers Brothers Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 132,549 shares of the company’s stock after selling 675 shares during the quarter. AbbVie comprises 3.1% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 4th biggest holding. Rodgers Brothers Inc.’s holdings in AbbVie were worth $23,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its stake in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Physicians Financial Services Inc. grew its stake in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after acquiring an additional 55 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after purchasing an additional 58 shares during the last quarter. Doliver Advisors LP lifted its position in shares of AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after purchasing an additional 59 shares in the last quarter. Finally, Sound Financial Strategies Group LLC boosted its holdings in AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock worth $213,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABBV shares. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Citigroup upped their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Insider Activity

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 shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.2 %

Shares of AbbVie stock opened at $205.12 on Monday. The company’s 50-day moving average price is $197.50 and its 200-day moving average price is $188.91. The company has a market cap of $362.85 billion, a price-to-earnings ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its quarterly 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the company earned $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 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.