Legacy Wealth Management LLC MS Sells 409 Shares of AbbVie Inc. (NYSE:ABBV)

Legacy Wealth Management LLC MS decreased its position in AbbVie Inc. (NYSE:ABBV) by 25.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,214 shares of the company’s stock after selling 409 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in AbbVie were worth $216,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Pensionfund Sabic increased its position in AbbVie by 36.9% during the 4th quarter. Pensionfund Sabic now owns 19,300 shares of the company’s stock valued at $3,430,000 after buying an additional 5,200 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of AbbVie by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 2,993,734 shares of the company’s stock worth $528,993,000 after acquiring an additional 483,455 shares during the last quarter. jvl associates llc increased its holdings in shares of AbbVie by 5.8% during the fourth quarter. jvl associates llc now owns 1,165 shares of the company’s stock valued at $207,000 after acquiring an additional 64 shares in the last quarter. Everence Capital Management Inc. raised its position in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the last quarter. Finally, Modus Advisors LLC boosted its stake in AbbVie by 1.8% in the 4th quarter. Modus Advisors LLC now owns 24,536 shares of the company’s stock worth $4,360,000 after purchasing an additional 428 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $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 is available through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded down $0.67 during midday trading on Monday, hitting $180.55. The stock had a trading volume of 498,196 shares, compared to its average volume of 2,958,990. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a market capitalization of $319.06 billion, a PE ratio of 62.69, a P/E/G ratio of 1.92 and a beta of 0.58. The firm’s fifty day moving average is $180.39 and its two-hundred day moving average is $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 (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 3.63%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABBV shares. BMO Capital Markets decreased their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Truist Financial increased their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

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.