Blueshift Asset Management LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Blueshift Asset Management LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 80.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,348 shares of the company’s stock after selling 5,441 shares during the period. Blueshift Asset Management LLC’s holdings in AbbVie were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of AbbVie in the fourth quarter worth $1,190,951,000. Charles Schwab Investment Management Inc. grew its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Boston Partners increased its stake in AbbVie by 35.9% in the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock worth $1,008,867,000 after acquiring an additional 1,503,875 shares during the last quarter. State Street Corp raised its holdings in shares of AbbVie by 1.6% in the 3rd 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. Finally, Proficio Capital Partners LLC boosted its position in shares of AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after acquiring an additional 1,172,362 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.9 %

Shares of NYSE:ABBV opened at $209.98 on Friday. The stock’s 50-day moving average is $194.49 and its 200 day moving average is $188.73. The company has a market cap of $370.68 billion, a PE ratio of 87.49, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 earned $2.79 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.12%. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABBV shares. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock valued at $11,067,025. Corporate insiders own 0.25% of the company’s stock.

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.