Householder Group Estate & Retirement Specialist LLC Sells 4,224 Shares of AbbVie Inc. (NYSE:ABBV)

Householder Group Estate & Retirement Specialist LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 40.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,169 shares of the company’s stock after selling 4,224 shares during the period. AbbVie makes up approximately 0.8% of Householder Group Estate & Retirement Specialist LLC’s holdings, making the stock its 23rd largest holding. Householder Group Estate & Retirement Specialist LLC’s holdings in AbbVie were worth $1,096,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ABBV. State Street Corp grew 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 acquiring an additional 1,267,685 shares during the period. Legal & General Group Plc grew its holdings in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. FMR LLC increased its position in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after buying an additional 373,802 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Truist Financial cut their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 1.3 %

Shares of NYSE ABBV opened at $171.49 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $303.05 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The firm has a 50 day moving average price of $175.78 and a 200 day moving average price of $184.47.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 EPS. Analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

AbbVie 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.