AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Beddow Capital Management Inc.

Beddow Capital Management Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 34,960 shares of the company’s stock after selling 965 shares during the period. AbbVie accounts for 2.6% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Beddow Capital Management Inc.’s holdings in AbbVie were worth $6,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment increased its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $29,000. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $31,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $209.98 on Friday. 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 capitalization of $370.68 billion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The business has a 50 day simple moving average of $194.49 and a 200 day simple moving average of $188.73.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 period in the prior year, the company posted $2.79 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.12%. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.