Eagle Bay Advisors LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Eagle Bay Advisors LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,515 shares of the company’s stock after selling 206 shares during the quarter. AbbVie makes up approximately 1.1% of Eagle Bay Advisors LLC’s portfolio, making the stock its 19th largest holding. Eagle Bay Advisors LLC’s holdings in AbbVie were worth $1,691,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Kieckhefer Group LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $320,000. Capital Investment Advisors LLC lifted its holdings in shares of AbbVie by 1.2% in the fourth quarter. Capital Investment Advisors LLC now owns 190,517 shares of the company’s stock worth $33,855,000 after buying an additional 2,183 shares in the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of AbbVie by 223.4% in the fourth quarter. Fiduciary Alliance LLC now owns 15,847 shares of the company’s stock worth $2,816,000 after buying an additional 10,947 shares in the last quarter. Winthrop Advisory Group LLC lifted its holdings in shares of AbbVie by 34.3% in the fourth quarter. Winthrop Advisory Group LLC now owns 4,494 shares of the company’s stock worth $799,000 after buying an additional 1,149 shares in the last quarter. Finally, Matrix Trust Co lifted its holdings in shares of AbbVie by 3.1% in the fourth quarter. Matrix Trust Co now owns 13,839 shares of the company’s stock worth $2,459,000 after buying an additional 420 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 0.6 %

Shares of AbbVie stock traded up $1.12 on Monday, hitting $176.29. The stock had a trading volume of 1,389,649 shares, compared to its average volume of 4,548,845. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock has a market cap of $311.53 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 1.92 and a beta of 0.58. The stock’s 50-day simple moving average is $178.47 and its two-hundred day simple moving average is $184.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 analyst estimates of $14.28 billion. During the same quarter last year, the firm posted $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. 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 3.72%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Citigroup decreased their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling

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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently 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.