Anchor Capital Advisors LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Anchor Capital Advisors LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,216 shares of the company’s stock after selling 1,673 shares during the quarter. Anchor Capital Advisors LLC’s holdings in AbbVie were worth $16,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its holdings in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Horrell Capital Management Inc. bought a new stake in AbbVie during the third quarter worth about $45,000. Bourgeon Capital Management LLC grew its holdings in AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the period. Naples Money Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $53,000. Finally, Core Wealth Advisors Inc. increased its position in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after buying an additional 285 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following 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 available through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie 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 directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Barclays dropped their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

AbbVie Price Performance

NYSE:ABBV traded up $1.90 during trading hours on Monday, hitting $161.52. 6,218,944 shares of the stock traded hands, compared to its average volume of 5,665,000. The stock has a 50 day moving average price of $174.59 and a 200 day moving average price of $160.90. 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 company has a market cap of $286.00 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 EPS. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. AbbVie’s dividend payout ratio is presently 183.98%.

About AbbVie

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.