AbbVie Inc. (NYSE:ABBV) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,037,066 shares of the company’s stock after selling 49,207 shares during the quarter. AbbVie makes up approximately 0.5% of Rhumbline Advisers’ portfolio, making the stock its 25th biggest position. Rhumbline Advisers owned approximately 0.17% of AbbVie worth $539,687,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. AMF Tjanstepension AB purchased a new stake in AbbVie during the 3rd quarter valued at approximately $8,777,000. Creative Planning lifted its holdings in shares of AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company’s stock worth $147,086,000 after purchasing an additional 40,925 shares during the period. Swedbank AB grew its position in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the last quarter. HFG Advisors Inc. acquired a new position in AbbVie in the 3rd quarter valued at $205,000. Finally, nVerses Capital LLC raised its position in AbbVie by 29.4% during the 3rd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $434,000 after buying an additional 500 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target 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. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $193.00 on Friday. The company has a market cap of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The business has a fifty day simple moving average of $178.59 and a 200-day simple moving average of $185.96. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. 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 (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business earned $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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.