AbbVie Inc. (NYSE:ABBV) Shares Sold by Lakeside Advisors INC.

Lakeside Advisors INC. decreased its position in AbbVie Inc. (NYSE:ABBV) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,966 shares of the company’s stock after selling 255 shares during the quarter. AbbVie comprises about 1.9% of Lakeside Advisors INC.’s holdings, making the stock its 13th largest position. Lakeside Advisors INC.’s holdings in AbbVie were worth $2,784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Morgan Stanley increased its stake in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after acquiring an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of 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 valued at $4,719,514,000 after acquiring an additional 29,170,366 shares during the last quarter. Northern Trust Corp increased its stake in shares of AbbVie by 2.3% during 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 last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of AbbVie by 1.8% during the 3rd 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 and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was 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 owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety 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.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

NYSE ABBV traded up $0.87 during trading hours on Wednesday, hitting $162.54. The company had a trading volume of 4,881,516 shares, compared to its average volume of 5,260,014. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The business has a fifty day simple moving average of $176.01 and a 200-day simple moving average of $159.91. The firm has a market cap of $287.80 billion, a P/E ratio of 59.54, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the company earned $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 11.12 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

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.