Riversedge Advisors LLC Sells 326 Shares of AbbVie Inc. (NYSE:ABBV)

Riversedge Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,373 shares of the company’s stock after selling 326 shares during the period. Riversedge Advisors LLC’s holdings in AbbVie were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Polar Capital Holdings Plc increased its holdings in shares of AbbVie by 11.6% in the 2nd quarter. Polar Capital Holdings Plc now owns 358,872 shares of the company’s stock worth $48,351,000 after buying an additional 37,368 shares during the last quarter. Altfest L J & Co. Inc. increased its stake in AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after acquiring an additional 215 shares during the last quarter. Torray Investment Partners LLC raised its position in AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after purchasing an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in shares of AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after purchasing an additional 4,633 shares during the period. Finally, Amplius Wealth Advisors LLC increased its position in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ABBV shares. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Barclays upped their price target on shares of AbbVie from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, February 5th. BMO Capital Markets raised their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.71.

Get Our Latest Research Report on AbbVie

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.4 %

Shares of AbbVie stock opened at $179.20 on Wednesday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market cap of $317.30 billion, a price-to-earnings ratio of 65.64, a PEG ratio of 2.27 and a beta of 0.58. The firm’s 50-day moving average is $173.79 and its two-hundred day moving average is $157.59. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.60 EPS. As a group, research analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.46%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

About AbbVie

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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