Callan Family Office LLC Has $3.75 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Callan Family Office LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 555.6% in the fourth quarter, Holdings Channel reports. The firm owned 21,105 shares of the company’s stock after purchasing an additional 17,886 shares during the period. Callan Family Office LLC’s holdings in AbbVie were worth $3,750,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in AbbVie during the 4th quarter worth $1,190,951,000. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. State Street Corp raised its position in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after purchasing an additional 1,172,362 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $186,431,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.4 %

ABBV opened at $210.71 on Friday. The stock’s fifty day simple moving average is $186.90 and its 200 day simple moving average is $187.47. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66. The stock has a market cap of $371.98 billion, a PE ratio of 87.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its earnings results 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the firm posted $2.79 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 56,439 shares of company stock valued at $11,377,057. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Morgan Stanley upped their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.