AbbVie Inc. (NYSE:ABBV) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,811 shares of the company's stock after selling 5,260 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in AbbVie were worth $87,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. Norges Bank acquired a new stake in shares of AbbVie during the fourth quarter valued at about $4,459,385,000. Raymond James Financial Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at $1,190,951,000. FMR LLC increased its position in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. boosted its stake in AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABBV shares. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI increased their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $211.41.

AbbVie Trading Down 1.2 %

NYSE:ABBV opened at $196.04 on Tuesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. 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 market cap of $346.79 billion, a PE ratio of 81.68, a P/E/G ratio of 1.62 and a beta of 0.56. The business's 50 day moving average is $196.00 and its two-hundred day moving average is $187.27.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.35%. AbbVie's dividend payout ratio is currently 279.15%.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value 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 $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% 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.

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