AbbVie Inc. (NYSE:ABBV) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,950 shares of the company’s stock after selling 6,437 shares during the period. Mutual Advisors LLC’s holdings in AbbVie were worth $5,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. State Street Corp lifted its stake in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp grew its position in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $170.42 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a 50 day moving average of $175.72 and a two-hundred day moving average of $184.73. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $301.15 billion, a PE ratio of 59.17, a P/E/G ratio of 1.71 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 EPS. On average, research analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.85%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.