AbbVie Inc. (NYSE:ABBV) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. cut its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,127 shares of the company’s stock after selling 413 shares during the period. M&R Capital Management Inc.’s holdings in AbbVie were worth $2,606,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Retirement Income Solutions Inc acquired a new position in AbbVie during the first quarter valued at approximately $204,000. Ergoteles LLC lifted its position in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after purchasing an additional 847 shares in the last quarter. First Western Trust Bank acquired a new position in shares of AbbVie during the first quarter worth $1,150,000. Wsfs Capital Management LLC acquired a new position in shares of AbbVie during the first quarter worth $562,000. Finally, Bridgewater Associates LP lifted its position in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares in the last quarter. 67.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBV. Wolfe Research cut shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Guggenheim began coverage on shares of AbbVie in a research report on Tuesday, February 28th. They set a “buy” rating and a $172.00 target price on the stock. StockNews.com cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 10th. Piper Sandler boosted their target price on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. Finally, Atlantic Securities dropped their price target on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Hold” and an average target price of $161.12.

Insider Activity

In other news, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the completion of the transaction, the director now owns 40,705 shares of the company’s stock, valued at $6,126,102.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the completion of the transaction, the director now owns 40,705 shares of the company’s stock, valued at $6,126,102.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 25,000 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $149.53, for a total transaction of $3,738,250.00. Following the transaction, the executive vice president now directly owns 233,208 shares of the company’s stock, valued at approximately $34,871,592.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,746 shares of company stock valued at $24,267,450. 0.08% of the stock is currently owned by company insiders.

AbbVie Stock Down 0.7 %

ABBV stock opened at $154.22 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.96 and a quick ratio of 0.84. AbbVie Inc. has a 1-year low of $134.09 and a 1-year high of $175.91. The firm has a fifty day moving average price of $151.13 and a two-hundred day moving average price of $150.93. The firm has a market cap of $272.88 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.50 and a beta of 0.62.

AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The firm had revenue of $15.12 billion during the quarter, compared to analyst estimates of $15.30 billion. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 11 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, April 13th. AbbVie’s dividend payout ratio (DPR) is 89.56%.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.