Hartford Investment Management Co. Has $18.43 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hartford Investment Management Co. decreased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,929 shares of the company’s stock after selling 2,477 shares during the quarter. AbbVie accounts for approximately 0.7% of Hartford Investment Management Co.’s holdings, making the stock its 22nd biggest holding. Hartford Investment Management Co.’s holdings in AbbVie were worth $18,430,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Syntax Advisors LLC grew its holdings in AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after acquiring an additional 67 shares during the last quarter. Goepper Burkhardt LLC grew its holdings in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after acquiring an additional 67 shares during the last quarter. First Bank & Trust grew its holdings in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares during the last quarter. Hudock Inc. grew its holdings in AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after acquiring an additional 68 shares during the last quarter. Finally, Clearwater Capital Advisors LLC boosted its stake in shares of AbbVie by 3.9% in the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on 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 approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets lifted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given 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 price target of $177.43.

Read Our Latest Research Report on ABBV

AbbVie Stock Down 2.0 %

Shares of NYSE ABBV traded down $3.53 during midday trading on Wednesday, reaching $177.16. The company’s stock had a trading volume of 2,049,754 shares, compared to its average volume of 5,585,265. The stock has a market capitalization of $313.69 billion, a price-to-earnings ratio of 65.56, a PEG ratio of 2.30 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a 50 day simple moving average of $175.80 and a 200-day simple moving average of $158.87. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBVGet Free Report) last issued 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 business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 earnings per share. Equities research analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

About AbbVie

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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