Neville Rodie & Shaw Inc. Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Neville Rodie & Shaw Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 96,630 shares of the company’s stock after selling 4,285 shares during the quarter. AbbVie comprises approximately 1.3% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 22nd largest holding. Neville Rodie & Shaw Inc.’s holdings in AbbVie were worth $17,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Legal & General Group Plc grew its stake in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after buying an additional 134,239 shares during the last quarter. FMR LLC grew its stake in 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 buying an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 worth $2,009,542,000 after buying an additional 582,953 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV traded up $0.36 during midday trading on Monday, reaching $181.58. The company’s stock had a trading volume of 1,514,547 shares, compared to its average volume of 3,281,367. The stock has a market cap of $320.88 billion, a P/E ratio of 63.05, a PEG ratio of 1.92 and a beta of 0.58. The company has a fifty day simple moving average of $180.39 and a 200 day simple moving average of $184.31. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced 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 3.61%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America reissued a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

AbbVie Company 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.