AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Invesco Ltd.

Invesco Ltd. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,120,186 shares of the company’s stock after selling 638,196 shares during the quarter. Invesco Ltd. owned about 0.40% of AbbVie worth $1,265,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. lifted its holdings in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after acquiring an additional 55 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after buying an additional 58 shares in the last quarter. Doliver Advisors LP grew its stake in AbbVie by 1.1% during the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock worth $938,000 after buying an additional 59 shares during the last quarter. Finally, Sound Financial Strategies Group LLC increased its holdings in shares of AbbVie by 5.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after purchasing an additional 60 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie 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 transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 over the last three months. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

Shares of NYSE ABBV opened at $186.58 on Monday. The company has a market capitalization of $330.06 billion, a price-to-earnings ratio of 77.74, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The business has a 50-day moving average of $200.61 and a 200-day moving average of $189.18. 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 (NYSE:ABBV) last announced its quarterly earnings results 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 return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business posted $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of analysts have commented on ABBV shares. Bank of America raised their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.