Manchester Capital Management LLC Has $3.91 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Manchester Capital Management LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,003 shares of the company’s stock after selling 245 shares during the period. Manchester Capital Management LLC’s holdings in AbbVie were worth $3,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. AMF Tjanstepension AB bought a new position in AbbVie in the 3rd quarter valued at approximately $8,777,000. Creative Planning lifted its stake in AbbVie by 5.8% in the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after purchasing an additional 40,925 shares during the last quarter. Swedbank AB lifted its stake in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares during the last quarter. HFG Advisors Inc. bought a new position in AbbVie in the 3rd quarter valued at approximately $205,000. Finally, nVerses Capital LLC lifted its stake in AbbVie by 29.4% in the 3rd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $434,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Trading Down 0.2 %

NYSE:ABBV opened at $193.00 on Friday. The stock has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. The firm has a fifty day simple moving average of $178.59 and a two-hundred day simple moving average of $185.96. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the firm earned $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 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 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 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.