Aurora Private Wealth Inc. Lowers Position in AbbVie Inc. (NYSE:ABBV)

Aurora Private Wealth Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,482 shares of the company’s stock after selling 103 shares during the period. Aurora Private Wealth Inc.’s holdings in AbbVie were worth $441,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares during the last quarter. State Street Corp boosted its holdings in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after acquiring an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp raised its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $176.90 on Tuesday. The business’s fifty day moving average is $175.84 and its 200 day moving average is $184.89. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $312.60 billion, a PE ratio of 61.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 EPS. Sell-side analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is 227.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ABBV shares. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Finally, Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.50.

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.