AlphaQuest LLC Has $190,000 Holdings in AbbVie Inc. (NYSE:ABBV)

AlphaQuest LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 86.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,071 shares of the company’s stock after selling 6,921 shares during the period. AlphaQuest LLC’s holdings in AbbVie were worth $190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Miramar Capital LLC lifted its position in AbbVie by 7.2% during the 4th quarter. Miramar Capital LLC now owns 109,129 shares of the company’s stock worth $19,392,000 after acquiring an additional 7,348 shares during the last quarter. Argentarii LLC bought a new position in shares of AbbVie during the 4th quarter worth about $731,000. Jackson Hole Capital Partners LLC increased its holdings in shares of AbbVie by 5.3% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 35,947 shares of the company’s stock worth $6,388,000 after purchasing an additional 1,797 shares during the period. OFI Invest Asset Management bought a new position in shares of AbbVie during the 4th quarter worth about $1,609,000. Finally, Axis Wealth Partners LLC bought a new position in shares of AbbVie during the 4th quarter worth about $315,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $211.90 on Monday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm’s 50 day moving average is $191.09 and its 200-day moving average is $188.05. The firm has a market capitalization of $374.07 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.10%. AbbVie’s dividend payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. Raymond James restated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 over the last ninety days. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.