Xponance Inc. Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Xponance Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 338,874 shares of the company’s stock after selling 631 shares during the quarter. AbbVie accounts for 0.5% of Xponance Inc.’s portfolio, making the stock its 24th biggest holding. Xponance Inc.’s holdings in AbbVie were worth $60,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners raised its position in AbbVie by 35.9% during the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock valued at $1,008,867,000 after purchasing an additional 1,503,875 shares in the last quarter. Intech Investment Management LLC raised its position in AbbVie by 7.9% during the 4th quarter. Intech Investment Management LLC now owns 217,849 shares of the company’s stock valued at $38,712,000 after purchasing an additional 15,976 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in AbbVie during the 4th quarter valued at $19,290,000. Evoke Wealth LLC raised its position in AbbVie by 12.8% during the 4th quarter. Evoke Wealth LLC now owns 22,482 shares of the company’s stock valued at $3,995,000 after purchasing an additional 2,556 shares in the last quarter. Finally, Horizon Investments LLC raised its position in shares of AbbVie by 3.0% in the 4th quarter. Horizon Investments LLC now owns 21,161 shares of the company’s stock worth $3,725,000 after acquiring an additional 617 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock worth $11,067,025 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.3 %

ABBV opened at $214.45 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The business has a fifty day simple moving average of $191.78 and a 200-day simple moving average of $188.18. The firm has a market cap of $378.57 billion, a P/E ratio of 89.35, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.