Nichols & Pratt Advisers LLP MA Reduces Position in AbbVie Inc. (NYSE:ABBV)

Nichols & Pratt Advisers LLP MA lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,199 shares of the company’s stock after selling 401 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in AbbVie were worth $4,656,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. GGM Financials LLC raised its position in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after acquiring an additional 50 shares during the period. Dillon & Associates Inc. grew its holdings in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares in the last quarter. WFA Asset Management Corp grew its holdings in shares of AbbVie by 0.8% during the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after buying an additional 55 shares in the last quarter. Physicians Financial Services Inc. grew its holdings in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares in the last quarter. Finally, Carr Financial Group Corp grew its holdings in shares of AbbVie by 1.1% during the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABBV. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 2.0 %

Shares of ABBV opened at $209.07 on Friday. The stock has a market capitalization of $369.09 billion, a PE ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $209.60. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company’s 50-day simple moving average is $184.42 and its 200-day simple moving average is $186.98.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

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.