AbbVie Inc. (NYSE:ABBV) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP lessened its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 83.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,357 shares of the company's stock after selling 7,035 shares during the period. Concentric Capital Strategies LP's holdings in AbbVie were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares in the last quarter. Watts Gwilliam & Co. LLC increased its holdings in AbbVie by 0.4% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 16,186 shares of the company's stock valued at $2,906,000 after buying an additional 70 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of AbbVie by 0.9% during the 4th quarter. Fortitude Family Office LLC now owns 10,350 shares of the company's stock valued at $1,839,000 after acquiring an additional 91 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in shares of AbbVie by 2.5% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,890 shares of the company's stock worth $691,000 after acquiring an additional 94 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of AbbVie by 26.5% in the 4th quarter. ORG Partners LLC now owns 12,096 shares of the company's stock worth $2,155,000 after acquiring an additional 2,535 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,471 shares of company stock valued at $23,426,451. 0.08% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 1.3 %

Shares of NYSE:ABBV opened at $185.58 on Friday. The company has a 50 day moving average of $194.70 and a two-hundred day moving average of $187.26. 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 capitalization of $328.28 billion, a price-to-earnings ratio of 77.32, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, analysts forecast 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. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ABBV shares. Citigroup lifted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.41.

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.

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