Amica Mutual Insurance Co. Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Amica Mutual Insurance Co. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,684 shares of the company’s stock after selling 2,932 shares during the quarter. Amica Mutual Insurance Co.’s holdings in AbbVie were worth $4,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd boosted its position in AbbVie by 18.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 99,436 shares of the company’s stock worth $17,670,000 after purchasing an additional 15,690 shares in the last quarter. Moment Partners LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $1,027,000. Sava Infond d.o.o. acquired a new position in shares of AbbVie during the 4th quarter worth $1,886,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AbbVie by 9.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,848,490 shares of the company’s stock worth $516,203,000 after buying an additional 242,366 shares in the last quarter. Finally, Tyler Stone Wealth Management grew its stake in AbbVie by 2.2% in the 4th quarter. Tyler Stone Wealth Management now owns 4,566 shares of the company’s stock valued at $811,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

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 sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 over the last ninety days. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV opened at $201.16 on Thursday. The stock has a market capitalization of $355.13 billion, a PE ratio of 83.82, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a fifty day moving average of $196.25 and a 200-day moving average of $188.87. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly 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 net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the company posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Bank of America lifted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.