My Legacy Advisors LLC Sells 323 Shares of AbbVie Inc. (NYSE:ABBV)

My Legacy Advisors LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,352 shares of the company’s stock after selling 323 shares during the quarter. My Legacy Advisors LLC’s holdings in AbbVie were worth $917,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Groupama Asset Managment grew its stake 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 buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter worth $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the fourth quarter valued at $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABBV shares. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. UBS Group upped their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 1.3 %

NYSE:ABBV opened at $171.49 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s fifty day moving average price is $175.78 and its 200-day moving average price is $184.75. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 215.28%.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.