Jacobs & Co. CA Sells 292 Shares of AbbVie Inc. (NYSE:ABBV)

Jacobs & Co. CA trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,933 shares of the company’s stock after selling 292 shares during the period. Jacobs & Co. CA’s holdings in AbbVie were worth $9,752,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie in the third quarter worth about $36,000. VitalStone Financial LLC increased its holdings in shares of AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. True Wealth Design LLC bought a new stake in AbbVie during the fourth quarter worth approximately $39,000. KB Financial Partners LLC bought a new stake in AbbVie during the first quarter worth approximately $45,000. Finally, PCA Investment Advisory Services Inc. bought a new stake in AbbVie during the second quarter worth approximately $38,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBV shares. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays upped their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.6 %

ABBV opened at $180.35 on Thursday. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm’s 50-day simple moving average is $174.15 and its 200-day simple moving average is $157.81. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm has a market cap of $319.34 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 2.27 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. Equities research analysts anticipate that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.44%. AbbVie’s dividend payout ratio is currently 227.11%.

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.