AbbVie Inc. (NYSE:ABBV) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its position in AbbVie Inc. (NYSE:ABBV) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 174,378 shares of the company’s stock after selling 4,068 shares during the period. TIAA Trust National Association’s holdings in AbbVie were worth $30,987,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in AbbVie in the fourth quarter valued at $1,190,951,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Boston Partners boosted its position in shares of AbbVie by 35.9% in the fourth quarter. Boston Partners now owns 5,687,472 shares of the company’s stock worth $1,008,867,000 after acquiring an additional 1,503,875 shares during the last quarter. Vanguard Group Inc. grew its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Finally, State Street Corp increased 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 worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $209.25 on Tuesday. 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 firm has a 50-day simple moving average of $195.14 and a 200 day simple moving average of $188.73. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a market cap of $369.40 billion, a PE ratio of 87.19, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced 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 return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm earned $2.79 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ABBV shares. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.