Everett Harris & Co. CA Has $83.23 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Everett Harris & Co. CA lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 537,076 shares of the company’s stock after selling 3,933 shares during the quarter. AbbVie makes up approximately 1.2% of Everett Harris & Co. CA’s holdings, making the stock its 21st largest holding. Everett Harris & Co. CA’s holdings in AbbVie were worth $83,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Polar Capital Holdings Plc lifted its position in AbbVie by 11.6% in the 2nd quarter. Polar Capital Holdings Plc now owns 358,872 shares of the company’s stock valued at $48,351,000 after acquiring an additional 37,368 shares in the last quarter. Altfest L J & Co. Inc. lifted its holdings in shares of 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 in the last quarter. Torray Investment Partners LLC boosted its position in shares of AbbVie by 13.0% during the third 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 last quarter. Retirement Planning Co of New England Inc. grew its holdings in AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after buying an additional 4,633 shares in the last quarter. Finally, Amplius Wealth Advisors LLC grew its holdings in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABBV shares. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Performance

Shares of ABBV stock traded up $1.16 on Wednesday, hitting $180.35. 5,056,429 shares of the stock were exchanged, compared to its average volume of 5,701,182. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm’s 50 day moving average is $174.15 and its two-hundred day moving average is $157.81. The firm has a market capitalization of $319.34 billion, a PE ratio of 66.06, a P/E/G ratio of 2.27 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.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.60 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.44%. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.