AbbVie Inc. (NYSE:ABBV) Shares Sold by Coastline Trust Co

Coastline Trust Co reduced its stake in AbbVie Inc. (NYSE:ABBV) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,606 shares of the company’s stock after selling 2,238 shares during the quarter. AbbVie comprises approximately 0.8% of Coastline Trust Co’s portfolio, making the stock its 28th biggest holding. Coastline Trust Co’s holdings in AbbVie were worth $7,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after buying an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC boosted its stake in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth about $4,459,385,000. Finally, FMR LLC boosted its position in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’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 completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on 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 in the company, valued at $8,985,223.60. This trade represents a 40.32 % 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 owned by insiders.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating and issued a $214.00 price target on shares of AbbVie in a research report on Thursday. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.71.

AbbVie Trading Up 0.6 %

ABBV opened at $172.78 on Friday. The company has a market cap of $305.64 billion, a P/E ratio of 71.99, a price-to-earnings-growth 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 company has a fifty day moving average price of $198.47 and a two-hundred day moving average price of $187.82. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued 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 business posted $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 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.