Pacifica Partners Inc. Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Pacifica Partners Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 8.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,990 shares of the company’s stock after selling 192 shares during the period. Pacifica Partners Inc.’s holdings in AbbVie were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC boosted its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. One Capital Management LLC lifted its stake in shares of AbbVie by 60.9% during the second quarter. One Capital Management LLC now owns 11,976 shares of the company’s stock worth $2,054,000 after purchasing an additional 4,533 shares in the last quarter. Wulff Hansen & CO. boosted its position in shares of AbbVie by 15,176.8% in the second quarter. Wulff Hansen & CO. now owns 475,110 shares of the company’s stock worth $81,491,000 after buying an additional 472,000 shares during the period. Luts & Greenleigh Group Inc. acquired a new stake in shares of AbbVie in the second quarter valued at about $2,337,000. Finally, Lmcg Investments LLC raised its holdings in shares of AbbVie by 1.9% during the 2nd quarter. Lmcg Investments LLC now owns 172,051 shares of the company’s stock valued at $29,510,000 after buying an additional 3,155 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Guggenheim raised their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets dropped their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Trading Down 0.7 %

Shares of NYSE:ABBV opened at $175.46 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50-day moving average price is $177.47 and its 200 day moving average price is $184.63. The company has a market cap of $310.06 billion, a PE ratio of 60.92, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

About AbbVie

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.