AbbVie Inc. (NYSE:ABBV) Shares Sold by Prairie Sky Financial Group LLC

Prairie Sky Financial Group LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,580 shares of the company’s stock after selling 427 shares during the period. AbbVie comprises approximately 8.9% of Prairie Sky Financial Group LLC’s holdings, making the stock its 2nd largest holding. Prairie Sky Financial Group LLC’s holdings in AbbVie were worth $14,497,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Resources Management Corp CT ADV boosted its position in AbbVie by 0.5% during the 2nd quarter. Resources Management Corp CT ADV now owns 81,355 shares of the company’s stock valued at $13,954,000 after purchasing an additional 383 shares during the period. Providence Capital Advisors LLC lifted its stake in AbbVie by 1.1% in the second quarter. Providence Capital Advisors LLC now owns 16,101 shares of the company’s stock valued at $2,762,000 after buying an additional 169 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its holdings in shares of AbbVie by 9.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock valued at $641,000 after acquiring an additional 316 shares during the period. Distillate Capital Partners LLC grew its position in shares of AbbVie by 364,292.5% during the second quarter. Distillate Capital Partners LLC now owns 291,514 shares of the company’s stock worth $50,000,000 after acquiring an additional 291,434 shares during the last quarter. Finally, Semmax Financial Advisors Inc. increased its holdings in shares of AbbVie by 33.0% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock worth $101,000 after acquiring an additional 146 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ABBV shares. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. 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, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.50.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $172.41 on Wednesday. The company has a market capitalization of $304.67 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a fifty day moving average of $175.72 and a 200-day moving average of $184.80. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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. The business had revenue of $14.46 billion during 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.95 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s 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.