AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Highlander Capital Management LLC

Highlander Capital Management LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 32.6% in the 1st quarter, Holdings Channel reports. The fund owned 153 shares of the company’s stock after selling 74 shares during the period. Highlander Capital Management LLC’s holdings in AbbVie were worth $28,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Lokken Investment Group LLC boosted its holdings in AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of AbbVie by 0.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after buying an additional 59 shares during the last quarter. Aspen Wealth Strategies LLC boosted its holdings in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the last quarter. Finally, Spinnaker Investment Group LLC boosted its holdings in shares of AbbVie by 1.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on AbbVie from $191.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $188.71.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE ABBV traded down $0.46 during midday trading on Friday, hitting $189.25. 6,299,943 shares of the company’s stock were exchanged, compared to its average volume of 5,593,109. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $193.91. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market cap of $334.19 billion, a price-to-earnings ratio of 56.17, a PEG ratio of 2.43 and a beta of 0.64. The business’s fifty day moving average price is $169.64 and its two-hundred day moving average price is $170.17.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 10.87 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.28%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.