Equitable Holdings Inc. Sells 114 Shares of AbbVie Inc. (NYSE:ABBV)

Equitable Holdings Inc. lessened its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,872 shares of the company’s stock after selling 114 shares during the period. Equitable Holdings Inc.’s holdings in AbbVie were worth $3,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bigelow Investment Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $238,000. Peachtree Investment Partners LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $310,000. Stonegate Investment Group LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $48,471,000. Bridgeworth LLC lifted its stake in shares of AbbVie by 25.6% in the fourth quarter. Bridgeworth LLC now owns 7,324 shares of the company’s stock valued at $992,000 after buying an additional 1,493 shares during the period. Finally, Cumberland Partners Ltd bought a new stake in shares of AbbVie in the fourth quarter valued at about $1,144,000. Institutional investors and hedge funds own 67.03% of the company’s stock.

ABBV has been the subject of several recent research reports. Barclays increased their price target on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. BMO Capital Markets increased their price target on shares of AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. JPMorgan Chase & Co. increased their price target on shares of AbbVie from $165.00 to $180.00 in a research report on Thursday, February 3rd. UBS Group lowered shares of AbbVie from a “buy” rating to a “neutral” rating and increased their price target for the stock from $129.00 to $147.00 in a research report on Monday, February 28th. Finally, Morgan Stanley increased their price target on shares of AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Five equities research 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’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Buy” and an average target price of $159.44.

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction on Monday, May 9th. The shares were sold at an average price of $150.28, for a total value of $15,028,000.00. Following the sale, the insider now directly owns 152,103 shares in the company, valued at approximately $22,858,038.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Robert A. Michael sold 43,105 shares of AbbVie stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total transaction of $6,390,316.25. The disclosure for this sale can be found here. Insiders sold a total of 304,423 shares of company stock worth $45,925,851 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Shares of NYSE ABBV traded down $1.06 during midday trading on Wednesday, reaching $153.72. 123,117 shares of the stock were exchanged, compared to its average volume of 7,871,603. The business has a 50-day simple moving average of $158.03 and a two-hundred day simple moving average of $141.07. The company has a market capitalization of $271.64 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 4.31 and a beta of 0.83. AbbVie Inc. has a 12 month low of $105.56 and a 12 month high of $175.91. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $3.16 EPS for the quarter, beating the consensus estimate of $3.14 by $0.02. The business 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 firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. Equities research analysts expect that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Friday, April 15th were given a $1.41 dividend. The ex-dividend date was 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%.

AbbVie Company Profile (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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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