Dynamic Advisor Solutions LLC Sells 5,459 Shares of AbbVie Inc. (NYSE:ABBV)

Dynamic Advisor Solutions LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 57,833 shares of the company’s stock after selling 5,459 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in AbbVie were worth $10,277,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ABBV. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter valued at about $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. boosted its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV opened at $170.05 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock’s 50-day moving average price is $175.84 and its 200-day moving average price is $184.66. The stock has a market capitalization of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same period last year, the company earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.86%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Daiwa Capital Markets cut shares of 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. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Finally, Citigroup cut their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.