MainStreet Investment Advisors LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 110,969 shares of the company’s stock after selling 11,909 shares during the quarter. AbbVie accounts for approximately 0.9% of MainStreet Investment Advisors LLC’s holdings, making the stock its 28th biggest holding. MainStreet Investment Advisors LLC’s holdings in AbbVie were worth $11,890,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Boston Partners lifted its position in AbbVie by 1,962.8% during the 4th quarter. Boston Partners now owns 2,881,764 shares of the company’s stock valued at $308,781,000 after purchasing an additional 2,742,063 shares during the period. BlackRock Inc. lifted its position in AbbVie by 2.0% during the 4th quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock valued at $13,331,975,000 after purchasing an additional 2,406,847 shares during the period. Principal Financial Group Inc. lifted its position in AbbVie by 58.0% during the 4th quarter. Principal Financial Group Inc. now owns 3,991,459 shares of the company’s stock valued at $427,684,000 after purchasing an additional 1,465,208 shares during the period. Morgan Stanley lifted its position in AbbVie by 10.4% during the 3rd quarter. Morgan Stanley now owns 13,731,455 shares of the company’s stock valued at $1,202,737,000 after purchasing an additional 1,296,673 shares during the period. Finally, AJO LP lifted its position in AbbVie by 2,163.7% during the 3rd quarter. AJO LP now owns 1,231,416 shares of the company’s stock valued at $107,858,000 after purchasing an additional 1,177,017 shares during the period. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Timothy J. Richmond sold 51,990 shares of the firm’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $105.00, for a total value of $5,458,950.00. Following the completion of the transaction, the executive vice president now directly owns 51,990 shares of the company’s stock, valued at $5,458,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the firm’s stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the completion of the transaction, the executive vice president now directly owns 76,259 shares of the company’s stock, valued at $8,007,195. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

ABBV has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of AbbVie in a research report on Wednesday, November 18th. They issued an “outperform” rating and a $123.00 price target on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, February 9th. Mizuho increased their price target on shares of AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. SVB Leerink increased their price target on shares of AbbVie from $128.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Finally, Royal Bank of Canada raised their target price on shares of AbbVie from $129.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, February 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $114.39.

Shares of ABBV traded down $0.57 during mid-day trading on Tuesday, hitting $106.49. 157,018 shares of the company’s stock were exchanged, compared to its average volume of 7,651,642. The company has a market cap of $188.01 billion, a PE ratio of 22.66, a P/E/G ratio of 1.54 and a beta of 0.84. AbbVie Inc. has a 52 week low of $62.55 and a 52 week high of $113.41. The company has a 50-day simple moving average of $107.18 and a 200 day simple moving average of $97.93. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.95 and a quick ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.07. The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $13.70 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. On average, analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.88%. AbbVie’s dividend payout ratio is currently 58.17%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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