DGS Capital Management LLC Sells 170 Shares of AbbVie Inc. (NYSE:ABBV)

DGS Capital Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,465 shares of the company’s stock after selling 170 shares during the period. DGS Capital Management LLC’s holdings in AbbVie were worth $382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares in the last quarter. Morgan Stanley boosted its position in AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after acquiring an additional 29,170,366 shares during the last quarter. Northern Trust Corp increased its position in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after acquiring an additional 491,391 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of AbbVie by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock valued at $3,034,276,000 after acquiring an additional 352,817 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Performance

NYSE ABBV opened at $162.54 on Wednesday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a fifty day moving average price of $176.01 and a 200-day moving average price of $159.91. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The firm has a market cap of $287.80 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 2.07 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.81%. AbbVie’s payout ratio is currently 227.11%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie 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.