DE Burlo Group Inc. Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

DE Burlo Group Inc. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,921 shares of the company’s stock after selling 2,230 shares during the quarter. DE Burlo Group Inc.’s holdings in AbbVie were worth $4,962,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in shares of AbbVie by 5.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 65,228 shares of the company’s stock worth $11,591,000 after acquiring an additional 3,157 shares during the period. UP Strategic Wealth Investment Advisors LLC raised its stake in AbbVie by 23.3% during the 4th quarter. UP Strategic Wealth Investment Advisors LLC now owns 2,851 shares of the company’s stock valued at $507,000 after buying an additional 538 shares during the last quarter. Hayek Kallen Investment Management lifted its holdings in shares of AbbVie by 1.1% during the 4th quarter. Hayek Kallen Investment Management now owns 33,457 shares of the company’s stock valued at $5,945,000 after buying an additional 369 shares during the period. Voya Financial Advisors Inc. boosted its stake in shares of AbbVie by 17.2% in the 4th quarter. Voya Financial Advisors Inc. now owns 5,089 shares of the company’s stock worth $897,000 after buying an additional 745 shares during the last quarter. Finally, Knightsbridge Asset Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth $205,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV stock opened at $185.96 on Friday. The company has a fifty day simple moving average of $196.85 and a two-hundred day simple moving average of $187.23. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $328.96 billion, a P/E ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 52 week low of $153.58 and a 52 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, missing the consensus estimate of $2.51 by ($0.05). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABBV. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Guggenheim reissued a “buy” rating and issued a $214.00 price objective on shares of AbbVie in a report on Thursday, April 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. BMO Capital Markets increased their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.19.

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.