AbbVie Inc. (NYSE:ABBV) Holdings Decreased by Sandy Spring Bank

Sandy Spring Bank trimmed its position in AbbVie Inc. (NYSE:ABBV) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,493 shares of the company’s stock after selling 2,106 shares during the quarter. Sandy Spring Bank’s holdings in AbbVie were worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the 4th quarter worth $29,000. Promus Capital LLC bought a new position in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter worth $35,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.8 %

Shares of NYSE ABBV opened at $212.21 on Thursday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a market cap of $374.62 billion, a price-to-earnings ratio of 88.42, a P/E/G ratio of 1.62 and a beta of 0.61. 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 business has a fifty day simple moving average of $193.14 and a 200-day simple moving average of $188.48.

AbbVie (NYSE:ABBV) last announced 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the company earned $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.09%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,639 shares of company stock valued at $11,067,025. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Finally, UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.