Commonwealth Equity Services LLC Has $217.42 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Commonwealth Equity Services LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,223,526 shares of the company’s stock after selling 557 shares during the period. Commonwealth Equity Services LLC’s holdings in AbbVie were worth $217,421,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CFO4Life Group LLC raised its holdings in AbbVie by 7.1% during the fourth quarter. CFO4Life Group LLC now owns 3,197 shares of the company’s stock worth $568,000 after buying an additional 212 shares during the last quarter. Balboa Wealth Partners raised its holdings in AbbVie by 4.5% during the fourth quarter. Balboa Wealth Partners now owns 7,193 shares of the company’s stock worth $1,278,000 after buying an additional 308 shares during the last quarter. Erste Asset Management GmbH raised its holdings in AbbVie by 7.5% during the fourth quarter. Erste Asset Management GmbH now owns 139,949 shares of the company’s stock worth $24,911,000 after buying an additional 9,765 shares during the last quarter. Tredje AP fonden raised its holdings in shares of AbbVie by 2.2% in the fourth quarter. Tredje AP fonden now owns 749,458 shares of the company’s stock valued at $133,179,000 after purchasing an additional 16,338 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its holdings in shares of AbbVie by 12.3% in the fourth quarter. Mascoma Wealth Management LLC now owns 797 shares of the company’s stock valued at $142,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.8 %

Shares of ABBV opened at $211.80 on Thursday. The firm’s 50 day simple moving average is $189.84 and its 200 day simple moving average is $187.89. The company has a market capitalization of $373.91 billion, a P/E ratio of 88.25, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last posted 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 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.