AbbVie Inc. (NYSE:ABBV) Stock Position Cut by RBO & Co. LLC

RBO & Co. LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,267 shares of the company’s stock after selling 820 shares during the period. AbbVie comprises about 5.6% of RBO & Co. LLC’s investment portfolio, making the stock its 2nd biggest holding. RBO & Co. LLC’s holdings in AbbVie were worth $34,521,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after acquiring an additional 108,993 shares during the last quarter. Quantbot Technologies LP grew its position in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC raised its holdings in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Sky Investment Group LLC boosted its position in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after buying an additional 3,936 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ABBV shares. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Finally, Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.41.

Insider Activity

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’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 completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

NYSE ABBV opened at $193.55 on Wednesday. The company’s fifty day moving average is $196.60 and its two-hundred day moving average is $187.16. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $342.39 billion, a price-to-earnings ratio of 80.65, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.