Boston Family Office LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Boston Family Office LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,506 shares of the company’s stock after selling 1,315 shares during the quarter. Boston Family Office LLC’s holdings in AbbVie were worth $13,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. StoneX Group Inc. grew its stake in AbbVie by 46.7% in the 4th quarter. StoneX Group Inc. now owns 47,991 shares of the company’s stock worth $8,528,000 after acquiring an additional 15,271 shares in the last quarter. Tradewinds LLC. grew its stake in AbbVie by 1.8% in the 4th quarter. Tradewinds LLC. now owns 11,224 shares of the company’s stock worth $2,146,000 after acquiring an additional 197 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of AbbVie by 15.0% in the fourth quarter. National Bank of Canada FI now owns 1,431,817 shares of the company’s stock valued at $254,394,000 after purchasing an additional 187,271 shares during the period. Finally, Franklin Resources Inc. grew its stake in AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 2.2 %

ABBV stock opened at $209.83 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The stock has a market capitalization of $371.19 billion, a PE ratio of 87.43, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The firm has a 50 day moving average of $198.27 and a 200 day moving average of $189.02.

AbbVie (NYSE:ABBV) last announced 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 quarter in the previous year, the business earned $2.79 EPS. Sell-side analysts forecast 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 dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Activity at AbbVie

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