AbbVie Inc. (NYSE:ABBV) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,599 shares of the company’s stock after selling 4,079 shares during the quarter. Vontobel Holding Ltd.’s holdings in AbbVie were worth $23,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in shares of AbbVie in the third quarter worth about $8,777,000. Creative Planning boosted its position in shares of AbbVie by 5.8% in the third quarter. Creative Planning now owns 750,811 shares of the company’s stock worth $147,086,000 after buying an additional 40,925 shares during the period. Swedbank AB boosted its position in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares during the period. HFG Advisors Inc. purchased a new position in AbbVie in the third quarter valued at about $205,000. Finally, nVerses Capital LLC boosted its holdings in AbbVie by 29.4% in the third quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $434,000 after purchasing an additional 500 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.2 %

Shares of AbbVie stock opened at $193.00 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s 50 day simple moving average is $178.59 and its 200-day simple moving average is $185.96. The stock has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last posted its 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 257.91%. During the same period last year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

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.