Bank Pictet & Cie Europe AG Sells 1,060 Shares of AbbVie Inc. (NYSE:ABBV)

Bank Pictet & Cie Europe AG trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,511 shares of the company’s stock after selling 1,060 shares during the period. Bank Pictet & Cie Europe AG’s holdings in AbbVie were worth $36,519,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GGM Financials LLC increased its position in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares during the last quarter. Dillon & Associates Inc. boosted its stake in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares during the period. WFA Asset Management Corp boosted its stake in AbbVie by 0.8% during the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after buying an additional 55 shares during the period. First Bancorp Inc ME boosted its stake in AbbVie by 2.6% during the third quarter. First Bancorp Inc ME now owns 2,240 shares of the company’s stock worth $442,000 after buying an additional 56 shares during the period. Finally, Carr Financial Group Corp boosted its stake in AbbVie by 1.1% during the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after buying an additional 56 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ABBV shares. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five 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 company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Down 0.2 %

NYSE:ABBV opened at $193.00 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a 50-day moving average of $178.59 and a 200 day moving average of $185.96. The firm has a market cap of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. AbbVie’s dividend payout ratio is presently 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate 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.