Pitcairn Co. Sells 546 Shares of AbbVie Inc. (NYSE:ABBV)

Pitcairn Co. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,726 shares of the company’s stock after selling 546 shares during the quarter. Pitcairn Co.’s holdings in AbbVie were worth $6,349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC increased its stake in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. raised its stake in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after buying an additional 58 shares during the last quarter. Doliver Advisors LP grew its holdings in AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock worth $938,000 after acquiring an additional 59 shares during the period. Finally, Sound Financial Strategies Group LLC raised its position in AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Trading Down 0.6 %

Shares of AbbVie stock opened at $204.93 on Thursday. The stock has a 50 day moving average of $199.66 and a 200 day moving average of $189.22. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market capitalization of $362.52 billion, a price-to-earnings ratio of 85.39, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last released 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 in the previous year, the firm earned $2.79 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated 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 directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.08% of the company’s stock.

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.