AbbVie Inc. (NYSE:ABBV) Shares Sold by Ceera Investments LLC

Ceera Investments LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,471 shares of the company’s stock after selling 160 shares during the quarter. Ceera Investments LLC’s holdings in AbbVie were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Sowell Financial Services LLC boosted its position in shares of AbbVie by 1.3% in the 4th quarter. Sowell Financial Services LLC now owns 58,572 shares of the company’s stock worth $10,408,000 after purchasing an additional 746 shares in the last quarter. Miramar Capital LLC boosted its position in shares of AbbVie by 7.2% in the 4th quarter. Miramar Capital LLC now owns 109,129 shares of the company’s stock worth $19,392,000 after purchasing an additional 7,348 shares in the last quarter. Argentarii LLC acquired a new stake in shares of AbbVie in the 4th quarter worth $731,000. Jackson Hole Capital Partners LLC boosted its position in shares of AbbVie by 5.3% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 35,947 shares of the company’s stock worth $6,388,000 after purchasing an additional 1,797 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of AbbVie in the 4th quarter worth $1,609,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABBV shares. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim lifted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Price Performance

ABBV stock opened at $214.55 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a 50 day simple moving average of $187.63 and a 200-day simple moving average of $187.53. The firm has a market capitalization of $378.75 billion, a PE ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie’s payout ratio is 273.33%.

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.