Tacita Capital Inc Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Tacita Capital Inc trimmed its position in AbbVie Inc. (NYSE:ABBV) by 43.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198 shares of the company’s stock after selling 150 shares during the quarter. Tacita Capital Inc’s holdings in AbbVie were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Bedel Financial Consulting Inc. lifted its stake in shares of AbbVie by 1.4% during the 4th quarter. Bedel Financial Consulting Inc. now owns 12,477 shares of the company’s stock worth $2,392,000 after purchasing an additional 175 shares during the last quarter. WMG Financial Advisors LLC lifted its stake in shares of AbbVie by 4.5% during the 4th quarter. WMG Financial Advisors LLC now owns 2,137 shares of the company’s stock worth $380,000 after purchasing an additional 93 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of AbbVie by 8.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 270,178 shares of the company’s stock worth $48,011,000 after purchasing an additional 21,250 shares during the last quarter. Unified Investment Management purchased a new stake in shares of AbbVie during the 4th quarter worth $459,000. Finally, Wernau Asset Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth $264,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was 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 owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 over the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $211.27 on Tuesday. The stock’s fifty day moving average is $185.08 and its two-hundred day moving average is $187.04. The firm has a market capitalization of $372.97 billion, a P/E ratio of 88.03, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $212.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $2.79 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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 given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. AbbVie’s dividend payout ratio is currently 273.33%.

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.