Nemes Rush Group LLC Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Nemes Rush Group LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,718 shares of the company’s stock after selling 417 shares during the period. Nemes Rush Group LLC’s holdings in AbbVie were worth $661,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares during the last quarter. Everence Capital Management Inc. lifted its position in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its position in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. State Street Corp boosted its stake in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Finally, Sky Investment Group LLC grew its holdings in shares of AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABBV shares. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America increased their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

NYSE:ABBV opened at $209.83 on Tuesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a 50-day simple moving average of $198.27 and a two-hundred day simple moving average of $189.02. The firm has a market capitalization of $371.19 billion, a PE ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 prior year, the company earned $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.13%. AbbVie’s payout ratio is presently 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 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.