Sfmg LLC Sells 429 Shares of AbbVie Inc. (NYSE:ABBV)

Sfmg LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,512 shares of the company’s stock after selling 429 shares during the period. Sfmg LLC’s holdings in AbbVie were worth $1,164,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABBV. Moneta Group Investment Advisors LLC lifted its position in shares of AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after acquiring an additional 29,170,366 shares in the last quarter. Norges Bank purchased a new position in shares of AbbVie in the fourth quarter valued at about $3,033,348,000. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 29,922.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after acquiring an additional 6,012,281 shares in the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 17.9% in the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after acquiring an additional 4,785,277 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after acquiring an additional 3,768,579 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 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. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.5 %

AbbVie stock traded up $0.87 during mid-day trading on Wednesday, reaching $162.54. 4,881,516 shares of the company were exchanged, compared to its average volume of 5,260,014. The business has a fifty day moving average of $176.01 and a 200 day moving average of $159.91. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm has a market cap of $287.80 billion, a P/E ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is presently 227.11%.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned 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 $177.43.

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.