B.O.S.S. Retirement Advisors LLC Sells 21,638 Shares of AbbVie Inc. (NYSE:ABBV)

B.O.S.S. Retirement Advisors LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 90.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,367 shares of the company’s stock after selling 21,638 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in AbbVie were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. State Street Corp increased its holdings in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. FMR LLC grew its position in shares of AbbVie by 3.9% during the 3rd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 4.2% during 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 purchasing an additional 373,802 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ABBV. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4 %

NYSE:ABBV opened at $170.05 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a 50-day moving average of $175.84 and a 200 day moving average of $184.66. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market cap of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

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

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.86%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

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.