AbbVie Inc. (NYSE:ABBV) Position Trimmed by Delta Asset Management LLC TN

Delta Asset Management LLC TN reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 3.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 35,835 shares of the company’s stock after selling 1,388 shares during the quarter. Delta Asset Management LLC TN’s holdings in AbbVie were worth $6,368,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter valued at about $29,000. Promus Capital LLC bought a new position in AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $35,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Down 0.1 %

Shares of NYSE ABBV opened at $201.16 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a 50-day moving average of $196.25 and a two-hundred day moving average of $188.87. The company has a market cap of $355.13 billion, a PE ratio of 83.82, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its 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 net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the firm earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $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 quarter, insiders have sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ABBV shares. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America increased their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five investment 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.