AbbVie Inc. (NYSE:ABBV) Shares Sold by Bellecapital International Ltd.

Bellecapital International Ltd. lessened its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,635 shares of the company’s stock after selling 1,621 shares during the period. AbbVie accounts for about 2.7% of Bellecapital International Ltd.’s portfolio, making the stock its 7th biggest holding. Bellecapital International Ltd.’s holdings in AbbVie were worth $8,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC increased its holdings in AbbVie by 80.6% in the 2nd quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock worth $27,000 after purchasing an additional 79 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of AbbVie in the third quarter valued at about $31,000. Heritage Wealth Management LLC acquired a new stake in shares of AbbVie in the second quarter valued at about $37,000. Goodman Advisory Group LLC acquired a new stake in shares of AbbVie in the second quarter valued at about $53,000. Finally, Paragon Wealth Strategies LLC acquired a new stake in shares of AbbVie in the third quarter valued at about $51,000. Institutional investors and hedge funds own 67.71% of the company’s stock.

AbbVie Stock Down 0.3 %

Shares of ABBV stock traded down $0.41 during trading hours on Wednesday, reaching $147.28. The company had a trading volume of 609,163 shares, compared to its average volume of 5,953,904. AbbVie Inc. has a 12 month low of $132.83 and a 12 month high of $175.91. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.93 and a quick ratio of 0.83. The business has a fifty day simple moving average of $159.47 and a 200-day simple moving average of $149.22. The company has a market cap of $260.46 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69.

AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a return on equity of 155.88% and a net margin of 23.19%. The company had revenue of $14.81 billion for the quarter, compared to analyst estimates of $14.95 billion. During the same quarter last year, the company earned $3.33 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 13.89 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.02%. This is an increase from AbbVie’s previous quarterly dividend of $1.41. The ex-dividend date is Thursday, January 12th. AbbVie’s dividend payout ratio (DPR) is presently 79.04%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. BMO Capital Markets decreased their price target on AbbVie from $170.00 to $169.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. Credit Suisse Group assumed coverage on AbbVie in a research report on Thursday, November 17th. They set an “outperform” rating and a $170.00 target price on the stock. Piper Sandler upped their target price on AbbVie from $155.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, January 17th. SVB Leerink cut their target price on AbbVie from $140.00 to $135.00 and set an “underperform” rating on the stock in a research report on Friday, September 30th. Finally, Atlantic Securities cut their target price on AbbVie from $162.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $160.56.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 42,370 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the completion of the sale, the executive vice president now directly owns 13,837 shares of the company’s stock, valued at $2,261,519.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.