Cannell & Spears LLC Has $39.54 Million Position in AbbVie Inc. (NYSE:ABBV)

Cannell & Spears LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 222,483 shares of the company’s stock after selling 1,327 shares during the quarter. Cannell & Spears LLC’s holdings in AbbVie were worth $39,535,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter valued at about $32,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABBV shares. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Performance

Shares of ABBV opened at $205.12 on Monday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $362.85 billion, a PE ratio of 85.47, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock’s fifty day moving average price is $197.50 and its two-hundred day moving average price is $188.91.

AbbVie (NYSE:ABBV) last issued its 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 quarter in the prior year, the business posted $2.79 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

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.