Supplemental Annuity Collective Trust of NJ Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Supplemental Annuity Collective Trust of NJ lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 32.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,562 shares of the company’s stock after selling 5,500 shares during the quarter. AbbVie accounts for 0.6% of Supplemental Annuity Collective Trust of NJ’s portfolio, making the stock its 29th largest position. Supplemental Annuity Collective Trust of NJ’s holdings in AbbVie were worth $1,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Exeter Financial LLC raised its stake in shares of AbbVie by 2.9% during the third quarter. Exeter Financial LLC now owns 21,715 shares of the company’s stock worth $3,237,000 after purchasing an additional 617 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of AbbVie by 7.9% in the third quarter. Douglas Lane & Associates LLC now owns 13,396 shares of the company’s stock valued at $1,997,000 after purchasing an additional 979 shares during the period. Viking Fund Management LLC increased its stake in AbbVie by 6.0% in the third quarter. Viking Fund Management LLC now owns 142,250 shares of the company’s stock valued at $21,204,000 after purchasing an additional 8,060 shares during the last quarter. Trilogy Capital Inc. increased its stake in shares of AbbVie by 0.6% during the 3rd quarter. Trilogy Capital Inc. now owns 19,862 shares of the company’s stock valued at $2,961,000 after acquiring an additional 117 shares during the last quarter. Finally, Hilltop Wealth Advisors LLC acquired a new stake in shares of AbbVie in the third quarter worth approximately $205,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

Shares of NYSE ABBV traded down $7.67 during trading on Friday, reaching $159.62. The company had a trading volume of 10,709,214 shares, compared to its average volume of 5,657,401. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $282.63 billion, a PE ratio of 58.94, a PEG ratio of 2.13 and a beta of 0.58. The business’s 50 day moving average price is $174.94 and its 200-day moving average price is $160.67. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.11. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm posted $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.88%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

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.