Arcadia Investment Management Corp MI Sells 201 Shares of AbbVie Inc. (NYSE:ABBV)

Arcadia Investment Management Corp MI reduced its position in AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,479 shares of the company’s stock after selling 201 shares during the period. Arcadia Investment Management Corp MI’s holdings in AbbVie were worth $1,329,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the 4th quarter valued at $35,000. Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter valued at $39,000. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

Shares of ABBV stock opened at $200.98 on Friday. The firm has a 50-day moving average of $180.12 and a 200-day moving average of $186.19. The company has a market cap of $354.80 billion, a P/E ratio of 83.74, a P/E/G ratio of 1.56 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced 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 257.91%. During the same quarter in the previous year, the company posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal 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 $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate 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.