AbbVie Inc. (NYSE:ABBV) Shares Sold by Centerpoint Advisors LLC

Centerpoint Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,680 shares of the company’s stock after selling 138 shares during the period. Centerpoint Advisors LLC’s holdings in AbbVie were worth $298,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie during the 3rd quarter valued at about $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its position in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its holdings in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Raymond James restated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $193.00 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The firm has a 50 day moving average of $178.93 and a 200-day moving average of $186.04. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is 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.