CX Institutional Sells 105 Shares of AbbVie Inc. (NYSE:ABBV)

CX Institutional trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 70,269 shares of the company’s stock after selling 105 shares during the quarter. CX Institutional’s holdings in AbbVie were worth $12,487,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. Berbice Capital Management LLC bought a new stake in AbbVie during the fourth quarter worth about $989,000. Southland Equity Partners LLC lifted its holdings in shares of AbbVie by 16.1% during the 4th quarter. Southland Equity Partners LLC now owns 28,445 shares of the company’s stock worth $5,055,000 after acquiring an additional 3,954 shares during the period. Sound Income Strategies LLC boosted its position in shares of AbbVie by 10.4% during the 4th quarter. Sound Income Strategies LLC now owns 98,930 shares of the company’s stock worth $17,580,000 after acquiring an additional 9,358 shares in the last quarter. LexAurum Advisors LLC increased its stake in AbbVie by 47.3% in the fourth quarter. LexAurum Advisors LLC now owns 1,709 shares of the company’s stock valued at $304,000 after acquiring an additional 549 shares during the last quarter. Finally, Shilanski & Associates Inc. raised its position in AbbVie by 1.7% during the fourth quarter. Shilanski & Associates Inc. now owns 22,565 shares of the company’s stock valued at $4,010,000 after purchasing an additional 386 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $170.05 on Friday. The stock has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s 50 day moving average price is $175.74 and its two-hundred day moving average price is $184.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABBV shares. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Citigroup decreased their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company increased their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.