AbbVie Inc. (NYSE:ABBV) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 21,097 shares of the company’s stock after selling 241 shares during the period. Patton Albertson Miller Group LLC’s holdings in AbbVie were worth $3,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC lifted its stake in AbbVie by 0.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 33,052 shares of the company’s stock valued at $5,873,000 after purchasing an additional 173 shares during the last quarter. Advocate Group LLC increased its holdings in shares of AbbVie by 0.8% in the fourth quarter. Advocate Group LLC now owns 77,946 shares of the company’s stock valued at $13,851,000 after buying an additional 652 shares in the last quarter. Compass Wealth Management LLC lifted its position in shares of AbbVie by 5.2% during the 4th quarter. Compass Wealth Management LLC now owns 29,572 shares of the company’s stock valued at $5,255,000 after acquiring an additional 1,449 shares during the last quarter. Nikulski Financial Inc. boosted its stake in shares of AbbVie by 3.1% during the 4th quarter. Nikulski Financial Inc. now owns 38,977 shares of the company’s stock worth $6,926,000 after acquiring an additional 1,171 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of AbbVie by 2.3% during the fourth quarter. Toth Financial Advisory Corp now owns 39,911 shares of the company’s stock worth $7,092,000 after purchasing an additional 906 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABBV shares. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Truist Financial cut their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on 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 directly owns 6,983 shares in the company, 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 SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4 %

AbbVie stock opened at $170.05 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm’s fifty day simple moving average is $175.84 and its 200-day simple moving average is $184.66. The company has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.86%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.