AbbVie Inc. (NYSE:ABBV) Shares Sold by Founders Capital Management

Founders Capital Management reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,529 shares of the company’s stock after selling 1,090 shares during the period. AbbVie comprises 3.5% of Founders Capital Management’s investment portfolio, making the stock its 10th largest holding. Founders Capital Management’s holdings in AbbVie were worth $5,603,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter worth $28,000. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter worth about $26,000. Marquette Asset Management LLC purchased a new position in AbbVie in the third quarter valued at about $39,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.6 %

NYSE ABBV traded up $1.13 during trading on Monday, reaching $176.30. The company’s stock had a trading volume of 1,518,319 shares, compared to its average volume of 4,569,619. The business has a 50-day moving average price of $178.47 and a 200-day moving average price of $184.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market capitalization of $311.55 billion, a PE ratio of 61.22, a PEG ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABBV. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. 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. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

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.