Schnieders Capital Management LLC Sells 5,843 Shares of AbbVie Inc. (NYSE:ABBV)

Schnieders Capital Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,556 shares of the company's stock after selling 5,843 shares during the quarter. AbbVie accounts for about 0.9% of Schnieders Capital Management LLC's holdings, making the stock its 27th biggest holding. Schnieders Capital Management LLC's holdings in AbbVie were worth $4,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABBV. Altfest L J & Co. Inc. lifted its position in AbbVie by 0.9% in the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company's stock valued at $3,480,000 after purchasing an additional 215 shares during the last quarter. Torray Investment Partners LLC boosted its position in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company's stock valued at $3,159,000 after buying an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. grew its holdings in AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company's stock worth $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC increased its position in shares of AbbVie by 17.6% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company's stock valued at $413,000 after acquiring an additional 400 shares during the period. Finally, Synovus Financial Corp raised its stake in shares of AbbVie by 5.4% during the third quarter. Synovus Financial Corp now owns 118,795 shares of the company's stock valued at $17,709,000 after acquiring an additional 6,139 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV traded up $1.65 during trading hours on Tuesday, reaching $169.54. The company had a trading volume of 4,084,061 shares, compared to its average volume of 5,615,517. The firm has a market cap of $300.20 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 2.14 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm's 50 day moving average price is $175.26 and its 200-day moving average price is $160.57. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's dividend payout ratio is 227.11%.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company's stock, valued at $10,895,641.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, March 27th. Finally, Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $177.43.

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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