JBR Co Financial Management Inc Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

JBR Co Financial Management Inc trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 17.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,298 shares of the company’s stock after selling 1,140 shares during the period. JBR Co Financial Management Inc’s holdings in AbbVie were worth $941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB purchased a new position in AbbVie during the 3rd quarter worth $8,777,000. Swedbank AB increased its holdings in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its holdings in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares during the period. Silver Oak Securities Incorporated increased its holdings in AbbVie by 15.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 3,987 shares of the company’s stock worth $777,000 after purchasing an additional 521 shares during the period. Finally, Financial Management Network Inc. increased its holdings in AbbVie by 5.6% during the 3rd quarter. Financial Management Network Inc. now owns 2,525 shares of the company’s stock worth $491,000 after purchasing an additional 134 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $202.03 on Friday. The stock has a 50-day moving average of $181.25 and a two-hundred day moving average of $186.42. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66. The stock has a market cap of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 296.28%. During the same period in the previous year, the business posted $2.79 EPS. As a group, research analysts predict 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. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Wells Fargo & Company raised their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.