AbbVie Inc. (NYSE:ABBV) Shares Sold by Cora Capital Advisors LLC

Cora Capital Advisors LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,322 shares of the company’s stock after selling 89 shares during the quarter. Cora Capital Advisors LLC’s holdings in AbbVie were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $39,000. Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the 3rd quarter valued at approximately $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 0.4 %

NYSE:ABBV opened at $170.05 on Monday. The business’s 50-day moving average is $175.84 and its two-hundred day moving average is $184.77. The firm has a market capitalization of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company boosted their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley lowered their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Finally, UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.50.

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.