Choreo LLC Has $4.49 Million Stake in AbbVie Inc. (NYSE:ABBV)

Choreo LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,951 shares of the company’s stock after selling 655 shares during the quarter. Choreo LLC’s holdings in AbbVie were worth $4,487,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted its position in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the third quarter worth approximately $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Bourgeon Capital Management LLC lifted its position in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the period. Finally, Naples Money Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $53,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Guggenheim upped 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. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Performance

Shares of ABBV stock opened at $161.52 on Tuesday. The company has a market capitalization of $286.00 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.03 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a 50-day simple moving average of $174.27 and a 200 day simple moving average of $161.00.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.