Nisa Investment Advisors LLC Sells 65,310 Shares of AbbVie Inc. (NYSE:ABBV)

Nisa Investment Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,916 shares of the company’s stock after selling 65,310 shares during the quarter. Nisa Investment Advisors LLC’s holdings in AbbVie were worth $89,190,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ABBV. Mill Creek Capital Advisors LLC grew its position in shares of AbbVie by 9.2% in the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock valued at $641,000 after purchasing an additional 316 shares in the last quarter. Semmax Financial Advisors Inc. grew its position in shares of AbbVie by 33.0% in the second quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock valued at $101,000 after purchasing an additional 146 shares in the last quarter. NBW Capital LLC grew its position in shares of AbbVie by 1,167.8% in the second quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock valued at $6,635,000 after purchasing an additional 35,631 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in shares of AbbVie by 44.9% in the second quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock valued at $3,010,000 after purchasing an additional 5,437 shares in the last quarter. Finally, Alley Investment Management Company LLC grew its position in AbbVie by 0.4% during the second quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock worth $19,594,000 after buying an additional 411 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Guggenheim lifted their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lowered their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Performance

Shares of ABBV opened at $169.19 on Thursday. The business’s fifty day simple moving average is $175.75 and its two-hundred day simple moving average is $184.84. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market cap of $298.98 billion, a price-to-earnings ratio of 58.75, a P/E/G ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.88%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.