AbbVie Inc. (NYSE:ABBV) Shares Sold by Fiducient Advisors LLC

Fiducient Advisors LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 24.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,419 shares of the company’s stock after selling 1,095 shares during the period. Fiducient Advisors LLC’s holdings in AbbVie were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Howard Capital Management Group LLC grew its holdings in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. boosted its position in shares of AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of AbbVie by 1.0% during the 3rd quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock worth $3,403,000 after purchasing an additional 171 shares during the period. Morse Asset Management Inc increased its holdings in shares of AbbVie by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock valued at $1,494,000 after purchasing an additional 175 shares in the last quarter. Finally, Aldebaran Financial Inc. acquired a new stake in shares of AbbVie in the third quarter valued at about $466,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last three months. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABBV shares. 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 report on Monday, February 3rd. Piper Sandler boosted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Morgan Stanley raised their price target on AbbVie from $239.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.71.

AbbVie Trading Up 0.4 %

ABBV opened at $174.90 on Friday. The firm has a market capitalization of $309.39 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55. The firm’s 50 day moving average is $200.16 and its 200-day moving average is $188.49. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 posted $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.75%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.