Probity Advisors Inc. Sells 374 Shares of AbbVie Inc. (NYSE:ABBV)

Probity Advisors Inc. reduced its position in AbbVie Inc. (NYSE:ABBVGet Rating) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,325 shares of the company’s stock after selling 374 shares during the quarter. Probity Advisors Inc.’s holdings in AbbVie were worth $2,752,000 at the end of the most recent quarter.

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

Shares of ABBV traded down $0.79 during midday trading on Friday, reaching $153.50. 6,398,527 shares of the stock were exchanged, compared to its average volume of 7,759,677. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 3.89. The company’s 50 day moving average is $157.75 and its two-hundred day moving average is $140.25. The company has a market capitalization of $271.25 billion, a P/E ratio of 22.02, a PEG ratio of 4.26 and a beta of 0.83.

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

The firm 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. This represents a $5.64 annualized dividend and a yield of 3.67%. The ex-dividend date is Wednesday, April 13th. AbbVie’s dividend payout ratio is presently 80.92%.

In other news, EVP Henry O. Gosebruch sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $148.26, for a total value of $2,223,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Durkin sold 18,628 shares of AbbVie stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $150.01, for a total value of $2,794,386.28. The disclosure for this sale can be found here. In the last three months, insiders sold 304,423 shares of company stock valued at $45,925,851. Corporate insiders own 0.08% of the company’s stock.

Several equities research analysts have recently commented on ABBV shares. Mizuho upped their price target on shares of AbbVie from $154.00 to $166.00 and gave the company a “buy” rating in a research report on Friday, February 4th. Wells Fargo & Company boosted their price objective on AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. Citigroup boosted their price objective on AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. The Goldman Sachs Group boosted their price objective on AbbVie from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $159.44.

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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