AbbVie Inc. (NYSE:ABBV) Stock Position Reduced by DeDora Capital Inc.

DeDora Capital Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,958 shares of the company’s stock after selling 2,174 shares during the quarter. AbbVie makes up approximately 0.9% of DeDora Capital Inc.’s holdings, making the stock its 27th largest position. DeDora Capital Inc.’s holdings in AbbVie were worth $2,906,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its position in shares of AbbVie by 8.2% during the 1st quarter. AMF Tjanstepension AB now owns 294,444 shares of the company’s stock worth $53,618,000 after purchasing an additional 22,200 shares during the period. Ameliora Wealth Management Ltd. boosted its holdings in shares of AbbVie by 142.9% during the first quarter. Ameliora Wealth Management Ltd. now owns 1,700 shares of the company’s stock valued at $310,000 after acquiring an additional 1,000 shares during the period. Sendero Wealth Management LLC grew its position in shares of AbbVie by 0.8% during the first quarter. Sendero Wealth Management LLC now owns 8,452 shares of the company’s stock worth $1,539,000 after acquiring an additional 66 shares during the last quarter. Capital Asset Advisory Services LLC increased its holdings in shares of AbbVie by 6.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 18,701 shares of the company’s stock worth $3,179,000 after acquiring an additional 1,108 shares during the period. Finally, Artemis Investment Management LLP lifted its position in AbbVie by 3.4% in the 1st quarter. Artemis Investment Management LLP now owns 452,653 shares of the company’s stock valued at $82,384,000 after purchasing an additional 14,963 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred 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 directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s 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 directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Three investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Up 1.9 %

ABBV traded up $2.98 during midday trading on Friday, hitting $163.79. 5,850,102 shares of the company’s stock traded hands, compared to its average volume of 5,457,836. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market cap of $290.01 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The stock’s fifty day simple moving average is $173.13 and its 200-day simple moving average is $161.22.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.