MassMutual Private Wealth & Trust FSB Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

MassMutual Private Wealth & Trust FSB cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,039 shares of the company’s stock after selling 3,036 shares during the quarter. AbbVie comprises approximately 0.9% of MassMutual Private Wealth & Trust FSB’s portfolio, making the stock its 24th biggest holding. MassMutual Private Wealth & Trust FSB’s holdings in AbbVie were worth $33,592,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guinness Asset Management LTD increased its position in AbbVie by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,220,377 shares of the company’s stock worth $216,772,000 after purchasing an additional 60,598 shares during the last quarter. Corundum Group Inc. increased its holdings in shares of AbbVie by 82.8% during the 4th quarter. Corundum Group Inc. now owns 9,181 shares of the company’s stock worth $1,631,000 after buying an additional 4,159 shares during the last quarter. FLC Capital Advisors raised its position in shares of AbbVie by 2.8% in the 4th quarter. FLC Capital Advisors now owns 4,907 shares of the company’s stock worth $872,000 after buying an additional 135 shares during the period. Stokes Capital Advisors LLC boosted its holdings in AbbVie by 4.5% in the fourth quarter. Stokes Capital Advisors LLC now owns 36,701 shares of the company’s stock valued at $6,522,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Baugh & Associates LLC grew its position in AbbVie by 1.8% during the fourth quarter. Baugh & Associates LLC now owns 45,176 shares of the company’s stock valued at $7,768,000 after acquiring an additional 816 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV opened at $171.49 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. 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 firm has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The stock has a 50 day moving average of $175.78 and a 200-day moving average of $184.75.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.