AbbVie Inc. (NYSE:ABBV) Shares Sold by Diversified LLC

Diversified LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,112 shares of the company’s stock after selling 497 shares during the quarter. Diversified LLC’s holdings in AbbVie were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ABBV. Vanguard Group Inc. grew its stake in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares during the last quarter. Morgan Stanley lifted its holdings in shares of AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the period. Northern Trust Corp lifted its holdings in shares of AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AbbVie by 1.8% in 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 buying an additional 352,817 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of AbbVie by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock valued at $2,098,436,000 after buying an additional 199,833 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV stock traded up $1.86 during mid-day trading on Monday, reaching $168.27. The stock had a trading volume of 1,641,042 shares, compared to its average volume of 5,583,563. The firm’s 50 day simple moving average is $175.44 and its 200 day simple moving average is $160.28. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market cap of $297.95 billion, a PE ratio of 61.81, a P/E/G ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during 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%. AbbVie’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.60 EPS. On average, analysts forecast that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.68%. AbbVie’s payout ratio is 227.11%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. 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 company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 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. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by insiders.

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.