Addison Capital Co Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Addison Capital Co trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,995 shares of the company’s stock after selling 197 shares during the period. Addison Capital Co’s holdings in AbbVie were worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter worth $29,000. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on 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 completion of the transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABBV shares. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Guggenheim upped their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five 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 company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $211.90 on Monday. The firm has a market cap of $374.07 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company’s 50-day simple moving average is $191.09 and its 200-day simple moving average is $188.05. 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 (NYSE:ABBV) last issued its 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 in the previous year, the company earned $2.79 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 3.10%. AbbVie’s dividend payout ratio (DPR) is presently 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.