Angeles Investment Advisors LLC Has $286,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Angeles Investment Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,611 shares of the company’s stock after selling 95 shares during the quarter. Angeles Investment Advisors LLC’s holdings in AbbVie were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Swedbank AB grew its stake in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC grew its position in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the period. United Bank acquired a new stake in AbbVie during the 3rd quarter worth approximately $217,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in AbbVie by 16.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,751 shares of the company’s stock valued at $3,900,000 after purchasing an additional 2,838 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Raymond James reiterated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Down 0.9 %

Shares of NYSE:ABBV opened at $209.98 on Monday. 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 52-week low of $153.58 and a 52-week high of $218.66. The company has a market capitalization of $370.68 billion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a fifty day moving average of $194.49 and a 200-day moving average of $188.61.

AbbVie (NYSE:ABBV) last posted its 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 period in the prior year, the company earned $2.79 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 3.12%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by company insiders.

About AbbVie

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.