AbbVie Inc. (NYSE:ABBV) Shares Sold by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,431 shares of the company’s stock after selling 133 shares during the quarter. AbbVie comprises about 1.0% of 1620 Investment Advisors Inc.’s holdings, making the stock its 19th largest position. 1620 Investment Advisors Inc.’s holdings in AbbVie were worth $1,321,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Everence Capital Management Inc. lifted its holdings in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. State Street Corp lifted 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. Sky Investment Group LLC lifted its holdings in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of AbbVie by 16.5% during the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Leerink Partners upgraded 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. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’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 value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This 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, EVP Timothy J. Richmond sold 29,917 shares of the company’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 value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Down 0.3 %

Shares of NYSE:ABBV opened at $211.54 on Friday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a market capitalization of $373.44 billion, a P/E ratio of 88.14, a PEG ratio of 1.62 and a beta of 0.61. The stock has a 50-day simple moving average of $193.80 and a 200-day simple moving average of $188.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s 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.