Baron Silver Stevens Financial Advisors LLC Sells 205 Shares of AbbVie Inc. (NYSE:ABBV)

Baron Silver Stevens Financial Advisors LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,174 shares of the company’s stock after selling 205 shares during the period. Baron Silver Stevens Financial Advisors LLC’s holdings in AbbVie were worth $386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp lifted its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after acquiring an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp raised its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, 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 document filed with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.7 %

Shares of NYSE:ABBV opened at $170.42 on Friday. The firm has a market capitalization of $301.15 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The business has a 50 day simple moving average of $175.72 and a two-hundred day simple moving average of $184.73. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. AbbVie’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.85%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie 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.