RFG Advisory LLC Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

RFG Advisory LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,816 shares of the company’s stock after selling 4,650 shares during the period. RFG Advisory LLC’s holdings in AbbVie were worth $4,765,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABBV. Shilanski & Associates Inc. grew its stake in AbbVie by 1.7% during the fourth quarter. Shilanski & Associates Inc. now owns 22,565 shares of the company’s stock valued at $4,010,000 after acquiring an additional 386 shares in the last quarter. Matthew Goff Investment Advisor LLC grew its stake in AbbVie by 0.6% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 17,555 shares of the company’s stock valued at $3,120,000 after acquiring an additional 97 shares in the last quarter. Motive Wealth Advisors grew its stake in AbbVie by 9.0% during the fourth quarter. Motive Wealth Advisors now owns 1,994 shares of the company’s stock valued at $354,000 after acquiring an additional 165 shares in the last quarter. MFA Wealth Services purchased a new position in AbbVie during the fourth quarter valued at approximately $420,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in AbbVie by 1.6% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 175,347 shares of the company’s stock valued at $30,896,000 after acquiring an additional 2,781 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Leerink Partners raised 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. Morgan Stanley cut 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. Finally, UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Performance

Shares of ABBV opened at $170.05 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average price is $175.74 and its 200-day moving average price is $184.63. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market cap of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 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 (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 EPS. Equities research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm 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 $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.86%. AbbVie’s dividend payout ratio is 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.25% of the stock is currently owned by 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.