Prairie Sky Financial Group LLC cut its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.5% during the fourth quarter, HoldingsChannel reports. The fund owned 81,580 shares of the company’s stock after selling 427 shares during the quarter. AbbVie comprises approximately 8.9% of Prairie Sky Financial Group LLC’s holdings, making the stock its 2nd biggest position. Prairie Sky Financial Group LLC’s holdings in AbbVie were worth $14,497,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Transform Wealth LLC lifted its stake in AbbVie by 8.1% in the fourth quarter. Transform Wealth LLC now owns 94,366 shares of the company’s stock valued at $16,769,000 after acquiring an additional 7,060 shares during the last quarter. Chesley Taft & Associates LLC lifted its stake in shares of AbbVie by 1.3% in the 4th quarter. Chesley Taft & Associates LLC now owns 20,273 shares of the company’s stock valued at $3,603,000 after purchasing an additional 262 shares during the last quarter. Lockerman Financial Group Inc. lifted its stake in shares of AbbVie by 9.1% in the 4th quarter. Lockerman Financial Group Inc. now owns 1,407 shares of the company’s stock valued at $250,000 after purchasing an additional 117 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in AbbVie by 9.1% in the fourth quarter. Clear Harbor Asset Management LLC now owns 36,315 shares of the company’s stock worth $6,453,000 after purchasing an additional 3,042 shares in the last quarter. Finally, Charles Schwab Trust Co increased its position in AbbVie by 1.4% during the fourth quarter. Charles Schwab Trust Co now owns 21,603 shares of the company’s stock worth $3,839,000 after buying an additional 288 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ABBV has been the subject of several recent analyst reports. UBS Group upped their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five equities research 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. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.
Insider Transactions at AbbVie
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.
AbbVie Stock Performance
Shares of NYSE ABBV opened at $172.41 on Wednesday. The firm has a market capitalization of $304.67 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business has a fifty day simple moving average of $175.72 and a 200 day simple moving average of $184.80. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.
AbbVie Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.
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.
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