AbbVie Inc. (NYSE:ABBV) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,488 shares of the company’s stock after selling 756 shares during the period. Arvest Investments Inc.’s holdings in AbbVie were worth $1,864,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ABBV. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the 4th quarter worth about $29,000. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.8 %

AbbVie stock opened at $212.21 on Thursday. The company has a market capitalization of $374.62 billion, a PE ratio of 88.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm has a 50 day moving average price of $193.14 and a 200 day moving average price of $188.48.

AbbVie (NYSE:ABBV) last issued 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 net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the firm earned $2.79 earnings per share. Research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABBV shares. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Citigroup lifted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Bank of America raised their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, UBS Group raised their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 in the last three months. 0.25% of the stock is owned by company insiders.

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.