AbbVie Inc. (NYSE:ABBV) Shares Sold by Puzo Michael J

Puzo Michael J lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,237 shares of the company’s stock after selling 410 shares during the period. Puzo Michael J’s holdings in AbbVie were worth $1,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Groupama Asset Managment lifted its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC purchased a new position in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter worth $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.9 %

Shares of NYSE ABBV opened at $201.31 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market cap of $356.11 billion, a P/E ratio of 83.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The firm’s 50 day moving average price is $200.28 and its 200 day moving average price is $189.30. 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 (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie 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 completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Guggenheim boosted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.45.

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.