Choreo LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Choreo LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,951 shares of the company’s stock after selling 655 shares during the quarter. Choreo LLC’s holdings in AbbVie were worth $4,487,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Modus Advisors LLC lifted its stake in shares of AbbVie by 1.6% in the 3rd quarter. Modus Advisors LLC now owns 22,215 shares of the company’s stock worth $3,311,000 after purchasing an additional 341 shares during the period. Avion Wealth increased its holdings in AbbVie by 17.1% during the third quarter. Avion Wealth now owns 547 shares of the company’s stock valued at $80,000 after buying an additional 80 shares during the last quarter. Bfsg LLC raised its position in AbbVie by 3.9% in the third quarter. Bfsg LLC now owns 26,158 shares of the company’s stock worth $3,899,000 after acquiring an additional 993 shares during the period. Avestar Capital LLC boosted its stake in shares of AbbVie by 34.6% during the 3rd quarter. Avestar Capital LLC now owns 7,456 shares of the company’s stock worth $1,111,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Lake Street Financial LLC grew its position in shares of AbbVie by 2.9% during the 3rd quarter. Lake Street Financial LLC now owns 31,054 shares of the company’s stock valued at $4,728,000 after acquiring an additional 885 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $161.52 on Tuesday. The firm’s 50 day simple moving average is $174.27 and its 200-day simple moving average is $161.00. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market cap of $286.00 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced 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. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Activity

In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three 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 company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $174.31.

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.