Jacobi Capital Management LLC Has $5.86 Million Position in AbbVie Inc. (NYSE:ABBV)

Jacobi Capital Management LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,969 shares of the company’s stock after selling 270 shares during the quarter. Jacobi Capital Management LLC’s holdings in AbbVie were worth $5,859,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. State Street Corp boosted its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Proficio Capital Partners LLC increased its position in AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after buying an additional 1,172,362 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new position in shares of AbbVie during the 4th quarter worth approximately $186,431,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp grew its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 2.0 %

Shares of NYSE:ABBV opened at $209.07 on Friday. The company has a market capitalization of $369.09 billion, a price-to-earnings ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $209.60. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a 50 day moving average of $184.42 and a two-hundred day moving average of $186.98.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company earned $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.