Prudent Man Advisors LLC Sells 826 Shares of AbbVie Inc. (NYSE:ABBV)

Prudent Man Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,014 shares of the company’s stock after selling 826 shares during the quarter. Prudent Man Advisors LLC’s holdings in AbbVie were worth $891,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Richard W. Paul & Associates LLC grew its stake in shares of AbbVie by 4.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 7,753 shares of the company’s stock worth $1,378,000 after purchasing an additional 307 shares during the last quarter. Metis Global Partners LLC lifted its holdings in AbbVie by 1.2% in the 4th quarter. Metis Global Partners LLC now owns 98,664 shares of the company’s stock worth $17,533,000 after buying an additional 1,166 shares during the period. Fisher Asset Management LLC increased its stake in shares of AbbVie by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company’s stock valued at $7,683,000 after buying an additional 4,319 shares during the period. Maple Capital Management Inc. raised its holdings in shares of AbbVie by 27.0% during the fourth quarter. Maple Capital Management Inc. now owns 2,337 shares of the company’s stock valued at $415,000 after acquiring an additional 497 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in AbbVie in the fourth quarter worth $45,763,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Up 2.0 %

ABBV stock opened at $209.07 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $209.60. The business has a fifty day moving average price of $184.42 and a 200-day moving average price of $186.98. The stock has a market capitalization of $369.09 billion, a P/E ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 296.28%. During the same quarter in the prior year, the firm posted $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid 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 yield of 3.14%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

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.