Interchange Capital Partners LLC Sells 162 Shares of AbbVie Inc. (NYSE:ABBV)

Interchange Capital Partners LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,658 shares of the company’s stock after selling 162 shares during the period. AbbVie comprises 0.9% of Interchange Capital Partners LLC’s portfolio, making the stock its 25th largest holding. Interchange Capital Partners LLC’s holdings in AbbVie were worth $2,605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. Clune & Associates LTD. bought a new position in shares of AbbVie in the fourth quarter worth approximately $3,405,000. Mountain Hill Investment Partners Corp. bought a new position in shares of AbbVie during the fourth quarter worth $481,000. Crowley Wealth Management Inc. bought a new position in shares of AbbVie during the fourth quarter worth $4,595,000. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Finally, Napatree Capital LLC lifted its position in AbbVie by 5.1% during the fourth quarter. Napatree Capital LLC now owns 2,118 shares of the company’s stock valued at $376,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Down 0.9 %

ABBV stock opened at $209.98 on Monday. The firm has a 50 day moving average of $194.49 and a 200 day moving average of $188.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The stock has a market capitalization of $370.68 billion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted 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 quarter last year, the firm earned $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal 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 shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by company 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.