RFG Advisory LLC Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

RFG Advisory LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,486 shares of the company’s stock after selling 324 shares during the quarter. RFG Advisory LLC’s holdings in AbbVie were worth $5,189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Narus Financial Partners LLC raised its stake in AbbVie by 11.7% during the 4th quarter. Narus Financial Partners LLC now owns 1,875 shares of the company’s stock worth $291,000 after acquiring an additional 196 shares during the period. Altus Wealth Management LLC boosted its stake in shares of AbbVie by 25.4% during the fourth quarter. Altus Wealth Management LLC now owns 1,875 shares of the company’s stock valued at $291,000 after purchasing an additional 380 shares during the period. International Assets Investment Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $41,416,000. Benin Management CORP bought a new position in AbbVie in the fourth quarter worth about $223,000. Finally, Busey Bank raised its holdings in AbbVie by 25.0% in the fourth quarter. Busey Bank now owns 86,123 shares of the company’s stock worth $13,346,000 after purchasing an additional 17,234 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of ABBV traded down $0.15 during midday trading on Monday, reaching $169.85. The company had a trading volume of 4,744,215 shares, compared to its average volume of 5,727,209. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market cap of $300.74 billion, a PE ratio of 62.55, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The firm has a 50 day simple moving average of $176.23 and a 200-day simple moving average of $159.25. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the company earned $3.60 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 11.12 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the company from $167.00 to $156.00 in a report on Monday, December 18th. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company 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.