Stableford Capital II LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Stableford Capital II LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 10.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,766 shares of the company’s stock after selling 527 shares during the period. Stableford Capital II LLC’s holdings in AbbVie were worth $770,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Retirement Income Solutions Inc purchased a new stake in shares of AbbVie during the 1st quarter worth about $204,000. Ergoteles LLC boosted its stake in shares of AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after acquiring an additional 847 shares in the last quarter. First Western Trust Bank purchased a new position in AbbVie in the 1st quarter valued at about $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie in the 1st quarter valued at about $562,000. Finally, Bridgewater Associates LP lifted its stake in AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after buying an additional 33,661 shares in the last quarter. 67.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $9,280,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Scott T. Reents sold 15,942 shares of AbbVie stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the completion of the sale, the chief financial officer now directly owns 809 shares of the company’s stock, valued at approximately $123,841.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of AbbVie stock in a transaction on Monday, March 13th. The stock was sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $9,280,095.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,746 shares of company stock worth $24,267,450. Insiders own 0.08% of the company’s stock.

AbbVie Stock Down 0.7 %

AbbVie stock opened at $154.22 on Friday. AbbVie Inc. has a fifty-two week low of $134.09 and a fifty-two week high of $175.91. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96. The firm has a 50 day moving average price of $151.13 and a 200 day moving average price of $150.82. The company has a market capitalization of $272.88 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 3.50 and a beta of 0.62.

AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The firm had revenue of $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. During the same quarter last year, the firm earned $3.31 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 11 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 14th will be issued a $1.48 dividend. The ex-dividend date is Thursday, April 13th. This represents a $5.92 annualized dividend and a yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is presently 89.56%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wolfe Research lowered shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and raised their price target for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Atlantic Securities decreased their price target on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Friday, February 10th. Morgan Stanley decreased their price target on shares of AbbVie from $182.00 to $178.00 and set an “overweight” rating on the stock in a research note on Friday, February 10th. Finally, SVB Leerink raised shares of AbbVie from an “underperform” rating to a “market perform” rating and raised their price target for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.12.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.