AbbVie Inc. (NYSE:ABBV) Shares Sold by Pingora Partners LLC

Pingora Partners LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 30.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,840 shares of the company’s stock after selling 800 shares during the period. Pingora Partners LLC’s holdings in AbbVie were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Howard Capital Management Group LLC increased its stake in shares of AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares in the last quarter. Principal Financial Group Inc. boosted its stake in AbbVie by 12.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. Westside Investment Management Inc. grew its holdings in shares of AbbVie by 1.0% during the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock worth $3,403,000 after buying an additional 171 shares in the last quarter. Morse Asset Management Inc raised its position in shares of AbbVie by 2.4% in the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock valued at $1,494,000 after buying an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. purchased a new position in shares of AbbVie in the third quarter worth about $466,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on ABBV shares. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup lifted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Morgan Stanley reissued a “hold” rating on shares of AbbVie in a report on Friday, April 11th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday. They set an “overweight” rating and a $210.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three 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 an average target price of $211.19.

AbbVie Stock Up 2.0 %

AbbVie stock opened at $180.53 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $319.35 billion, a P/E ratio of 75.22, a P/E/G ratio of 1.62 and a beta of 0.55. The stock’s fifty day simple moving average is $197.05 and its 200-day simple moving average is $187.28. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results 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 quarter last year, the firm posted $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.63%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.