Cambridge Investment Research Advisors Inc. Has $87.04 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Cambridge Investment Research Advisors Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 489,811 shares of the company's stock after selling 5,260 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in AbbVie were worth $87,039,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Cetera Investment Advisers grew its stake in AbbVie by 1.7% in the 4th quarter. Cetera Investment Advisers now owns 623,679 shares of the company's stock valued at $110,828,000 after buying an additional 10,254 shares during the last quarter. Cercano Management LLC increased its position in shares of AbbVie by 5,398.7% during the 4th quarter. Cercano Management LLC now owns 98,372 shares of the company's stock worth $17,481,000 after purchasing an additional 96,583 shares in the last quarter. Blue Capital Inc. bought a new position in AbbVie during the 4th quarter valued at about $297,000. Cahill Financial Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at about $501,000. Finally, Captrust Financial Advisors grew its stake in AbbVie by 5.4% during the fourth quarter. Captrust Financial Advisors now owns 1,295,297 shares of the company's stock worth $230,174,000 after buying an additional 66,432 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.7 %

Shares of NYSE:ABBV traded down $1.28 during midday trading on Friday, reaching $184.30. The company had a trading volume of 7,806,084 shares, compared to its average volume of 6,122,857. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock has a market cap of $326.02 billion, a PE ratio of 76.79, a P/E/G ratio of 1.62 and a beta of 0.56. 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 business's 50 day moving average price is $194.23 and its 200 day moving average price is $187.23.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.56%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday. StockNews.com raised AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Bank of America raised their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.41.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. Company insiders own 0.08% of the company's stock.

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.