AbbVie Inc. (NYSE:ABBV) Shares Sold by Briaud Financial Planning Inc

by · The Markets Daily

Briaud Financial Planning Inc trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 937 shares of the company’s stock after selling 100 shares during the period. Briaud Financial Planning Inc’s holdings in AbbVie were worth $166,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in AbbVie during the 4th quarter worth $1,190,951,000. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. State Street Corp lifted its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Proficio Capital Partners LLC increased its stake in AbbVie by 26,693.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after purchasing an additional 1,172,362 shares during the period. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in AbbVie during the fourth quarter worth about $186,431,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.1 %

ABBV stock opened at $216.62 on Tuesday. The company has a fifty day moving average price of $188.44 and a two-hundred day moving average price of $187.61. The stock has a market cap of $382.41 billion, a price-to-earnings ratio of 90.26, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the company posted $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ABBV shares. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

Check Out Our Latest Research Report on AbbVie

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is owned by company insiders.

About AbbVie

(Free Report)

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.

Featured Stories