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

Callan Capital LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,116 shares of the company’s stock after selling 367 shares during the period. Callan Capital LLC’s holdings in AbbVie were worth $1,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Redmond Asset Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $1,623,000. Oxbow Advisors LLC increased its stake in shares of AbbVie by 1.3% during the fourth quarter. Oxbow Advisors LLC now owns 7,120 shares of the company’s stock worth $1,265,000 after buying an additional 88 shares during the period. Element Wealth LLC increased its stake in AbbVie by 1.4% in the fourth quarter. Element Wealth LLC now owns 5,405 shares of the company’s stock valued at $960,000 after purchasing an additional 77 shares during the last quarter. Prentice Wealth Management LLC increased its stake in AbbVie by 3.1% in the fourth quarter. Prentice Wealth Management LLC now owns 6,267 shares of the company’s stock valued at $1,114,000 after purchasing an additional 190 shares during the last quarter. Finally, Bell Bank increased its stake in AbbVie by 9.5% in the fourth quarter. Bell Bank now owns 73,150 shares of the company’s stock valued at $12,999,000 after purchasing an additional 6,333 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.6 %

AbbVie stock opened at $202.03 on Friday. The stock has a market cap of $356.64 billion, a PE ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. The stock has a 50-day moving average price of $180.68 and a 200 day moving average price of $186.29. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the firm posted $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.