Capital Group Private Client Services Inc. Has $82.07 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Capital Group Private Client Services Inc. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 3.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 461,827 shares of the company’s stock after selling 14,230 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in AbbVie were worth $82,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fiduciary Advisors Inc. bought a new stake in AbbVie in the 4th quarter valued at about $29,000. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter worth $32,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ABBV shares. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Bank of America raised their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley reiterated a “hold” rating on shares of AbbVie in a report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $210.71.

AbbVie Stock Up 0.6 %

Shares of NYSE:ABBV opened at $172.78 on Friday. The firm has a fifty day moving average of $198.85 and a 200 day moving average of $187.99. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market capitalization of $305.64 billion, a PE ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 period in the prior year, the business earned $2.79 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

AbbVie Company 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.