Gamco Investors INC. ET AL Sells 76 Shares of AbbVie Inc. (NYSE:ABBV)

Gamco Investors INC. ET AL cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,537 shares of the company’s stock after selling 76 shares during the quarter. Gamco Investors INC. ET AL’s holdings in AbbVie were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Quantbot Technologies LP boosted its position in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares during the period. Everence Capital Management Inc. raised its position in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Sky Investment Group LLC raised its holdings in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after acquiring an additional 3,936 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in AbbVie by 16.5% in the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock valued at $4,523,000 after acquiring an additional 3,654 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE ABBV opened at $172.78 on Friday. The company has a 50-day moving average price of $198.85 and a 200-day moving average price of $187.99. 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 market capitalization of $305.64 billion, a P/E ratio of 71.99, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

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 the consensus estimate 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 previous year, the firm posted $2.79 EPS. Equities research analysts anticipate 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 paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. StockNews.com cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 9th. Guggenheim restated a “buy” rating and set a $214.00 target price on shares of AbbVie in a report on Thursday. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Seven research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.71.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value 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. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by corporate insiders.

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.