AbbVie Inc. (NYSE:ABBV) Shares Sold by Cora Capital Advisors LLC

Cora Capital Advisors LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,322 shares of the company’s stock after selling 89 shares during the period. Cora Capital Advisors LLC’s holdings in AbbVie were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Guggenheim boosted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $170.05 on Monday. The firm’s fifty day simple moving average is $175.84 and its 200-day simple moving average is $184.77. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the business posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.