Meeder Advisory Services Inc. Sells 138 Shares of AbbVie Inc. (NYSE:ABBV)

Meeder Advisory Services Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,984 shares of the company’s stock after selling 138 shares during the period. Meeder Advisory Services Inc.’s holdings in AbbVie were worth $6,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. increased its holdings in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares during the period. Doliver Advisors LP boosted its stake in AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after buying an additional 59 shares during the period. Finally, Sound Financial Strategies Group LLC raised its holdings in shares of AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock valued at $213,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

Shares of ABBV stock opened at $206.08 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a fifty day moving average of $198.94 and a 200 day moving average of $189.11. The firm has a market capitalization of $364.55 billion, a price-to-earnings ratio of 85.87, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter in the previous year, the firm earned $2.79 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, April 15th. AbbVie’s 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.