AbbVie Inc. (NYSE:ABBV) Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,620 shares of the company’s stock after selling 73 shares during the period. Delphi Management Inc. MA’s holdings in AbbVie were worth $1,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Swedbank AB raised its holdings in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its holdings in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after acquiring an additional 273,078 shares during the period. United Bank acquired a new stake in shares of AbbVie in the 3rd quarter worth about $217,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 21,135 shares of the company’s stock worth $4,174,000 after acquiring an additional 60 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $214.45 on Tuesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. 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 company has a 50-day moving average of $191.78 and a 200-day moving average of $188.18. The firm has a market cap of $378.57 billion, a price-to-earnings ratio of 89.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 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 quarter last year, the firm earned $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

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.