Crossmark Global Holdings Inc. Has $13.75 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Crossmark Global Holdings Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,392 shares of the company’s stock after selling 3,435 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in AbbVie were worth $13,753,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Mitchell & Pahl Private Wealth LLC increased its position in shares of AbbVie by 3.7% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 16,378 shares of the company’s stock worth $2,910,000 after purchasing an additional 588 shares during the last quarter. Atwood & Palmer Inc. grew its stake in shares of AbbVie by 1.2% in the fourth quarter. Atwood & Palmer Inc. now owns 195,903 shares of the company’s stock valued at $34,812,000 after buying an additional 2,377 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in AbbVie by 1.8% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 332,772 shares of the company’s stock worth $59,134,000 after buying an additional 5,887 shares during the last quarter. Pure Financial Advisors LLC raised its position in AbbVie by 5.6% during the fourth quarter. Pure Financial Advisors LLC now owns 7,380 shares of the company’s stock worth $1,311,000 after acquiring an additional 389 shares in the last quarter. Finally, Tudor Financial Inc. lifted its stake in AbbVie by 78.7% in the fourth quarter. Tudor Financial Inc. now owns 4,025 shares of the company’s stock valued at $715,000 after acquiring an additional 1,772 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.5 %

Shares of NYSE ABBV opened at $172.41 on Wednesday. The stock has a market capitalization of $304.67 billion, a P/E ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. The stock’s fifty day moving average is $175.72 and its 200 day moving average is $184.80. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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

AbbVie Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Truist Financial dropped their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.