AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Associated Banc Corp

Associated Banc Corp cut its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,617 shares of the company’s stock after selling 1,732 shares during the quarter. Associated Banc Corp’s holdings in AbbVie were worth $5,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charter Oak Capital Management LLC grew its holdings in shares of AbbVie by 1.1% in the 4th quarter. Charter Oak Capital Management LLC now owns 6,527 shares of the company’s stock valued at $884,000 after buying an additional 73 shares during the period. Ridgecrest Wealth Partners LLC grew its holdings in shares of AbbVie by 0.7% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 11,340 shares of the company’s stock valued at $1,535,000 after buying an additional 74 shares during the period. Sage Rhino Capital LLC grew its holdings in shares of AbbVie by 2.7% in the 4th quarter. Sage Rhino Capital LLC now owns 2,831 shares of the company’s stock valued at $383,000 after buying an additional 75 shares during the period. Barber Financial Group Inc. boosted its stake in AbbVie by 3.0% in the 4th quarter. Barber Financial Group Inc. now owns 2,683 shares of the company’s stock worth $363,000 after purchasing an additional 77 shares during the period. Finally, Center For Asset Management LLC boosted its stake in AbbVie by 4.1% in the 4th quarter. Center For Asset Management LLC now owns 2,123 shares of the company’s stock worth $287,000 after purchasing an additional 83 shares during the period. 67.03% of the stock is owned by institutional investors and hedge funds.

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $150.28, for a total transaction of $15,028,000.00. Following the transaction, the insider now owns 152,103 shares in the company, valued at approximately $22,858,038.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Henry O. Gosebruch sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $148.26, for a total transaction of $2,223,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,423 shares of company stock worth $45,925,851. Insiders own 0.08% of the company’s stock.

A number of equities analysts recently weighed in on ABBV shares. BMO Capital Markets upped their target price on shares of AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Citigroup upped their target price on shares of AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Morgan Stanley increased their price objective on shares of AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. Finally, Cowen increased their price objective on shares of AbbVie from $130.00 to $150.00 in a research note on Tuesday, January 18th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $159.44.

Shares of ABBV stock traded down $0.79 on Friday, reaching $153.50. The stock had a trading volume of 6,398,527 shares, compared to its average volume of 7,759,677. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The firm’s 50-day moving average is $157.75 and its two-hundred day moving average is $140.25. The firm has a market capitalization of $271.25 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 4.26 and a beta of 0.83. AbbVie Inc. has a 12 month low of $105.56 and a 12 month high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.02. The firm had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be issued a $1.41 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $5.64 annualized dividend and a yield of 3.67%. AbbVie’s dividend payout ratio is currently 80.92%.

About AbbVie (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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