Lipe & Dalton Sells 90 Shares of AbbVie Inc. (NYSE:ABBV)

Lipe & Dalton cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,395 shares of the company’s stock after selling 90 shares during the period. AbbVie accounts for 2.4% of Lipe & Dalton’s investment portfolio, making the stock its 13th biggest position. Lipe & Dalton’s holdings in AbbVie were worth $4,513,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie during the 3rd quarter valued at $999,000. Saturna Capital Corp boosted its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. grew its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC grew its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. 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 company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 0.6 %

ABBV opened at $202.03 on Friday. The stock has a market capitalization of $356.64 billion, a price-to-earnings ratio of 84.18, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The business has a 50-day moving average of $180.68 and a two-hundred day moving average of $186.29. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 previous year, the company posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company 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 $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.