PFG Advisors Sells 2,330 Shares of AbbVie Inc. (NYSE:ABBV)

PFG Advisors lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,369 shares of the company’s stock after selling 2,330 shares during the period. PFG Advisors’ holdings in AbbVie were worth $3,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. HighTower Advisors LLC boosted its stake in shares of AbbVie by 6.8% during the fourth quarter. HighTower Advisors LLC now owns 1,573,829 shares of the company’s stock valued at $279,669,000 after purchasing an additional 100,418 shares in the last quarter. Windle Wealth LLC raised its holdings in AbbVie by 4.7% in the 4th quarter. Windle Wealth LLC now owns 41,022 shares of the company’s stock valued at $7,290,000 after buying an additional 1,854 shares during the last quarter. Moors & Cabot Inc. boosted its position in AbbVie by 0.9% during the 4th quarter. Moors & Cabot Inc. now owns 65,507 shares of the company’s stock worth $11,641,000 after buying an additional 581 shares during the period. Natural Investments LLC bought a new stake in AbbVie during the 4th quarter worth approximately $7,533,000. Finally, AGF Management Ltd. raised its stake in shares of AbbVie by 31.6% during the fourth quarter. AGF Management Ltd. now owns 1,009,491 shares of the company’s stock valued at $179,387,000 after acquiring an additional 242,337 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock valued at $11,377,057 over the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.4 %

ABBV stock opened at $213.71 on Wednesday. The stock’s 50 day simple moving average is $189.16 and its 200 day simple moving average is $187.73. The company has a market cap of $377.28 billion, a P/E ratio of 89.05, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business earned $2.79 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.