Baldwin Wealth Partners LLC MA Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Baldwin Wealth Partners LLC MA lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 20.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,952 shares of the company’s stock after selling 2,008 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in AbbVie were worth $1,413,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. FMR LLC lifted its position in AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 3.9 %

NYSE ABBV opened at $176.90 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $312.60 billion, a PE ratio of 61.42, a P/E/G ratio of 1.68 and a beta of 0.58. The stock’s 50 day moving average is $175.84 and its 200 day moving average is $184.89.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by company 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.