J. W. Coons Advisors LLC Sells 315 Shares of AbbVie Inc. (NYSE:ABBV)

J. W. Coons Advisors LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,914 shares of the company’s stock after selling 315 shares during the period. J. W. Coons Advisors LLC’s holdings in AbbVie were worth $1,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. raised its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Wells Fargo & Company lifted their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $202.03 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a 50 day moving average of $181.25 and a 200-day moving average of $186.41. The company has a market capitalization of $356.65 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS 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 prior year, the company earned $2.79 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

About AbbVie

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.