Pinnacle Wealth Planning Services Inc. Cuts Position in AbbVie Inc. (NYSE:ABBV)

Pinnacle Wealth Planning Services Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 19.8% in the 4th quarter, HoldingsChannel reports. The fund owned 12,088 shares of the company’s stock after selling 2,985 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in AbbVie were worth $2,148,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABBV. Swedbank AB increased its position in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC increased its position in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares in the last quarter. United Advisor Group LLC increased its position in shares of AbbVie by 89.9% in the third quarter. United Advisor Group LLC now owns 4,382 shares of the company’s stock valued at $865,000 after buying an additional 2,075 shares in the last quarter. JFG Wealth Management LLC increased its position in shares of AbbVie by 8.4% in the third quarter. JFG Wealth Management LLC now owns 2,304 shares of the company’s stock valued at $455,000 after buying an additional 178 shares in the last quarter. Finally, Balentine LLC increased its position in shares of AbbVie by 87.4% in the third quarter. Balentine LLC now owns 10,842 shares of the company’s stock valued at $2,141,000 after buying an additional 5,056 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Performance

NYSE ABBV opened at $211.61 on Thursday. The firm has a market capitalization of $373.57 billion, a P/E ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66. 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 business’s 50-day simple moving average is $186.27 and its 200-day simple moving average is $187.31.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the business earned $2.79 earnings per share. Equities analysts predict that AbbVie Inc. will post 12.31 EPS 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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.