AbbVie Inc. (NYSE:ABBV) Stock Holdings Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,146 shares of the company’s stock after selling 1,828 shares during the quarter. Fisher Asset Management LLC’s holdings in AbbVie were worth $5,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Brighton Jones LLC grew its stake in AbbVie by 13.6% in the 3rd quarter. Brighton Jones LLC now owns 18,127 shares of the company’s stock valued at $2,702,000 after buying an additional 2,168 shares during the last quarter. WESPAC Advisors LLC increased its stake in shares of AbbVie by 4.9% in the third quarter. WESPAC Advisors LLC now owns 12,720 shares of the company’s stock worth $1,896,000 after purchasing an additional 593 shares during the period. Calamos Wealth Management LLC lifted its position in shares of AbbVie by 3.3% during the 3rd quarter. Calamos Wealth Management LLC now owns 11,994 shares of the company’s stock worth $1,788,000 after purchasing an additional 379 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in AbbVie by 5.5% during the 3rd quarter. Baystate Wealth Management LLC now owns 4,297 shares of the company’s stock valued at $641,000 after purchasing an additional 225 shares during the period. Finally, Macroview Investment Management LLC boosted its stake in AbbVie by 39.0% during the 3rd quarter. Macroview Investment Management LLC now owns 563 shares of the company’s stock valued at $84,000 after purchasing an additional 158 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Down 0.1 %

Shares of NYSE:ABBV opened at $162.55 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 $287.82 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 2.07 and a beta of 0.61. The company has a 50 day moving average of $172.48 and a 200-day moving average of $161.62. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s payout ratio is currently 183.98%.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now 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. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is owned by insiders.

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.