Transcend Capital Advisors LLC Sells 3,303 Shares of AbbVie Inc. (NYSE:ABBV)

Transcend Capital Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,060 shares of the company’s stock after selling 3,303 shares during the quarter. Transcend Capital Advisors LLC’s holdings in AbbVie were worth $7,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Groupama Asset Managment boosted its stake in shares of 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.8 %

Shares of ABBV opened at $200.98 on Friday. The firm has a market cap of $354.80 billion, a price-to-earnings ratio of 83.74, a PEG ratio of 1.56 and a beta of 0.58. 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 Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The business’s fifty day moving average is $180.68 and its 200-day moving average is $186.29.

AbbVie (NYSE:ABBV) last posted 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 257.91%. During the same period last year, the company earned $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. AbbVie’s dividend payout ratio is presently 273.33%.

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.