AbbVie Inc. (NYSE:ABBV) Stock Holdings Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,030,668 shares of the company's stock after selling 809,440 shares during the period. AbbVie comprises about 0.6% of Ameriprise Financial Inc.'s investment portfolio, making the stock its 22nd biggest holding. Ameriprise Financial Inc. owned about 0.74% of AbbVie worth $2,315,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of AbbVie during the 4th quarter valued at about $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $1,190,951,000. FMR LLC grew its holdings in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of AbbVie by 24.3% in 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 last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 2.7 %

Shares of NYSE:ABBV opened at $198.62 on Friday. The firm has a 50 day simple moving average of $196.14 and a 200 day simple moving average of $187.23. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $351.35 billion, a PE ratio of 82.76, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

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

AbbVie Announces Dividend

The business 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Bank of America lifted their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $211.41.

Insider Buying and Selling

In related news, 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 sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by company insiders.

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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