F M Investments LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

F M Investments LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360 shares of the company’s stock after selling 71 shares during the period. F M Investments LLC’s holdings in AbbVie were worth $211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after acquiring an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $499,955,000. Vanguard Group Inc. lifted its position in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in AbbVie by 201.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after acquiring an additional 1,433,236 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AbbVie by 34.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock worth $655,463,000 after acquiring an additional 1,130,638 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.65 during trading on Tuesday, reaching $169.54. The stock had a trading volume of 4,084,061 shares, compared to its average volume of 5,615,517. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $300.20 billion, a PE ratio of 62.10, a P/E/G ratio of 2.14 and a beta of 0.58. The firm’s 50 day moving average price is $175.26 and its two-hundred day moving average price is $160.57.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 EPS. On average, research analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given 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 yield of 3.66%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value 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 approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays lifted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average 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.