Manchester Capital Management LLC Has $3.91 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Manchester Capital Management LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,003 shares of the company’s stock after selling 245 shares during the period. Manchester Capital Management LLC’s holdings in AbbVie were worth $3,910,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the 4th quarter worth $35,000. Mizuho Securities Co. Ltd. boosted its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABBV. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five investment 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’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Down 0.2 %

AbbVie stock opened at $193.00 on Friday. The stock has a market cap of $341.05 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. 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 twelve month low of $153.58 and a twelve month high of $207.32. The company’s 50-day moving average price is $178.59 and its two-hundred day moving average price is $185.96.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 257.91%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.40%. AbbVie’s payout ratio is presently 273.33%.

AbbVie Company 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.