Eudaimonia Advisors LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Eudaimonia Advisors LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,967 shares of the company’s stock after selling 182 shares during the quarter. AbbVie makes up about 1.7% of Eudaimonia Advisors LLC’s portfolio, making the stock its 12th biggest holding. Eudaimonia Advisors LLC’s holdings in AbbVie were worth $2,629,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ABBV. Altfest L J & Co. Inc. raised its position in shares of AbbVie by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after buying an additional 215 shares during the last quarter. Torray Investment Partners LLC increased its position in AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. raised its position in shares of AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after buying an additional 4,633 shares during the period. Amplius Wealth Advisors LLC lifted its stake in shares of AbbVie by 17.6% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in AbbVie by 5.4% during the third quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after buying an additional 6,139 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ABBV shares. Truist Financial raised their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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 firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction 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 sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.0 %

NYSE:ABBV traded up $1.65 on Tuesday, reaching $169.54. The stock had a trading volume of 4,083,385 shares, compared to its average volume of 5,615,517. The company has a market cap of $300.20 billion, a price-to-earnings ratio of 62.21, a P/E/G ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm’s fifty day moving average is $175.34 and its two-hundred day moving average is $160.42. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. Equities analysts expect that AbbVie Inc. will post 11.16 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 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.