Loudon Investment Management LLC Has $3.86 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Loudon Investment Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,739 shares of the company’s stock after selling 300 shares during the period. AbbVie makes up about 2.2% of Loudon Investment Management LLC’s portfolio, making the stock its 17th biggest position. Loudon Investment Management LLC’s holdings in AbbVie were worth $3,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Raymond James Financial Inc. bought a new position in shares of AbbVie in the 4th quarter valued at $1,190,951,000. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Boston Partners increased its stake in shares of AbbVie by 35.9% in the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after purchasing an additional 1,503,875 shares during the last quarter. State Street Corp increased its stake in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after acquiring an additional 1,172,362 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABBV shares. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Morgan Stanley boosted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.3 %

Shares of NYSE:ABBV opened at $211.54 on Friday. The company has a market capitalization of $373.44 billion, a price-to-earnings ratio of 88.14, 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. The business’s 50-day moving average is $193.80 and its 200-day moving average is $188.64. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the company earned $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

About AbbVie

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.