Mirador Capital Partners LP Sells 417 Shares of AbbVie Inc. (NYSE:ABBV)

Mirador Capital Partners LP decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,190 shares of the company’s stock after selling 417 shares during the period. AbbVie accounts for about 1.7% of Mirador Capital Partners LP’s investment portfolio, making the stock its 14th largest position. Mirador Capital Partners LP’s holdings in AbbVie were worth $9,274,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IFS Advisors LLC raised its position in shares of AbbVie by 150.0% during the fourth quarter. IFS Advisors LLC now owns 500 shares of the company’s stock valued at $89,000 after buying an additional 300 shares during the last quarter. Mason & Associates Inc grew its stake in AbbVie by 49.9% during the fourth quarter. Mason & Associates Inc now owns 4,506 shares of the company’s stock valued at $801,000 after acquiring an additional 1,499 shares in the last quarter. Foresight Capital Management Advisors Inc. increased its holdings in AbbVie by 14.3% in the 4th quarter. Foresight Capital Management Advisors Inc. now owns 10,396 shares of the company’s stock valued at $1,847,000 after acquiring an additional 1,297 shares during the last quarter. MPS Loria Financial Planners LLC lifted its stake in AbbVie by 0.8% in the 4th quarter. MPS Loria Financial Planners LLC now owns 16,325 shares of the company’s stock worth $2,901,000 after purchasing an additional 125 shares in the last quarter. Finally, Stolper Co boosted its holdings in shares of AbbVie by 0.5% during the 4th quarter. Stolper Co now owns 14,506 shares of the company’s stock valued at $2,578,000 after purchasing an additional 68 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.4 %

ABBV opened at $173.68 on Friday. The company has a fifty day moving average of $176.88 and a two-hundred day moving average of $184.54. The stock has a market capitalization of $306.91 billion, a price-to-earnings ratio of 60.30, a PEG ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Wells Fargo & Company lifted their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. BMO Capital Markets lowered their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. 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 stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average 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.