AbbVie Inc. (NYSE:ABBV) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,243 shares of the company’s stock after selling 238 shares during the period. Profit Investment Management LLC’s holdings in AbbVie were worth $1,109,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABBV. State Street Corp increased its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Legal & General Group Plc increased its holdings in AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares in the last quarter. FMR LLC raised its position in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after buying an additional 373,802 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

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

AbbVie Price Performance

NYSE ABBV opened at $173.68 on Friday. The business’s fifty day moving average is $176.88 and its two-hundred day moving average is $184.54. The stock has a market capitalization of $306.91 billion, a P/E ratio of 60.30, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.78%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Morgan Stanley dropped their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.