Thrivent Financial for Lutherans Has $42.76 Million Stake in AbbVie Inc. (NYSE:ABBV)

Thrivent Financial for Lutherans reduced its stake in AbbVie Inc. (NYSE:ABBV) by 27.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,134 shares of the company’s stock after selling 91,118 shares during the period. Thrivent Financial for Lutherans’ holdings in AbbVie were worth $42,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter worth $29,000. Promus Capital LLC bought a new position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the fourth quarter worth about $35,000. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’s 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 completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s 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 transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 over the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $212.21 on Thursday. The stock has a 50-day moving average of $193.14 and a 200-day moving average of $188.48. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market cap of $374.62 billion, a PE ratio of 88.42, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 period in the prior year, the company posted $2.79 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 3.09%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Bank of America raised their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Five research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.