Carrera Capital Advisors Has $212,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Carrera Capital Advisors lowered its stake in AbbVie Inc. (NYSE:ABBV) by 90.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,195 shares of the company’s stock after selling 11,285 shares during the quarter. Carrera Capital Advisors’ holdings in AbbVie were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.6 %

Shares of ABBV opened at $208.12 on Wednesday. The stock’s 50-day moving average price is $185.64 and its 200 day moving average price is $187.14. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $367.40 billion, a price-to-earnings ratio of 86.72, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $215.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 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 business earned $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABBV. Bank of America lifted their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.95.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 over the last quarter. 0.25% of the stock is owned by company insiders.

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.