AbbVie Inc. (NYSE:ABBV) Shares Sold by Bank OZK

Bank OZK cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,391 shares of the company’s stock after selling 970 shares during the quarter. AbbVie comprises 2.0% of Bank OZK’s portfolio, making the stock its 6th biggest position. Bank OZK’s holdings in AbbVie were worth $4,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 2.0 %

Shares of NYSE ABBV opened at $209.07 on Friday. The company has a market cap of $369.09 billion, a price-to-earnings ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $209.60. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock’s 50 day simple moving average is $184.42 and its 200 day simple moving average is $186.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the company posted $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.