Foundations Investment Advisors LLC Sells 44,138 Shares of AbbVie Inc. (NYSE:ABBV)

Foundations Investment Advisors LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 68.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,739 shares of the company’s stock after selling 44,138 shares during the quarter. Foundations Investment Advisors LLC’s holdings in AbbVie were worth $3,685,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Magnolia Capital Advisors LLC boosted its position in AbbVie by 89.5% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 9,256 shares of the company’s stock valued at $1,588,000 after buying an additional 4,371 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AbbVie by 0.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock worth $38,948,000 after purchasing an additional 1,843 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of AbbVie by 3.5% during the second quarter. Sunbelt Securities Inc. now owns 48,020 shares of the company’s stock worth $8,236,000 after purchasing an additional 1,622 shares during the period. William B. Walkup & Associates Inc. purchased a new position in AbbVie during the 2nd quarter valued at about $4,336,000. Finally, Invst LLC lifted its holdings in AbbVie by 23.0% in the 2nd quarter. Invst LLC now owns 4,133 shares of the company’s stock worth $704,000 after buying an additional 774 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

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

AbbVie Stock Performance

Shares of ABBV stock opened at $176.90 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $312.60 billion, a price-to-earnings ratio of 61.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s 50-day moving average is $175.84 and its 200 day moving average is $184.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.