Strategy Asset Managers LLC Sells 105 Shares of AbbVie Inc. (NYSE:ABBV)

Strategy Asset Managers LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 6.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,538 shares of the company’s stock after selling 105 shares during the quarter. Strategy Asset Managers LLC’s holdings in AbbVie were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $205.12 on Friday. The firm has a market capitalization of $362.85 billion, a PE ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a 50-day moving average price of $197.50 and a two-hundred day moving average price of $188.95. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

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 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 quarter in the previous year, the business earned $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Citigroup lifted their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock worth $11,067,025 in the last quarter. 0.25% of the stock is owned by company insiders.

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.