Lipe & Dalton Has $4.51 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Lipe & Dalton cut its stake in AbbVie Inc. (NYSE:ABBV) by 0.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,395 shares of the company’s stock after selling 90 shares during the quarter. AbbVie makes up about 2.4% of Lipe & Dalton’s holdings, making the stock its 13th biggest holding. Lipe & Dalton’s holdings in AbbVie were worth $4,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. State Street Corp raised its stake in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. FMR LLC increased its position in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of AbbVie by 1.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,119,235 shares of the company’s stock valued at $813,467,000 after acquiring an additional 38,854 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $202.03 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company’s 50-day moving average is $180.68 and its 200 day moving average is $186.29. The stock has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the firm posted $2.79 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

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 paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABBV. Citigroup lifted their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Transactions at AbbVie

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

AbbVie Company 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.