Jacobs & Co. CA Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Jacobs & Co. CA decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 62,933 shares of the company’s stock after selling 292 shares during the period. Jacobs & Co. CA’s holdings in AbbVie were worth $9,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $36,000. VitalStone Financial LLC increased its stake in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $39,000. KB Financial Partners LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $45,000. Finally, PCA Investment Advisory Services Inc. purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABBV. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research note on Monday, December 11th. Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

AbbVie stock opened at $180.35 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $319.34 billion, a PE ratio of 66.06, a P/E/G ratio of 2.27 and a beta of 0.58. The firm has a fifty day simple moving average of $174.15 and a two-hundred day simple moving average of $157.81. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

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.