Curi Wealth Management LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Curi Wealth Management LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,839 shares of the company’s stock after selling 124 shares during the period. Curi Wealth Management LLC’s holdings in AbbVie were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after acquiring an additional 6,012,281 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth $499,955,000. Charles Schwab Investment Management Inc. boosted its stake in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Vanguard Group Inc. grew its holdings in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in AbbVie by 201.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after buying an additional 1,433,236 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABBV shares. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

Check Out Our Latest Research Report on ABBV

AbbVie Stock Performance

Shares of AbbVie stock traded up $0.27 during midday trading on Tuesday, hitting $161.55. The company had a trading volume of 4,020,212 shares, compared to its average volume of 5,575,719. The company has a fifty day simple moving average of $171.15 and a 200 day simple moving average of $162.06. The stock has a market cap of $285.28 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 2.03 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, analysts predict that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.84%. AbbVie’s payout ratio is presently 183.98%.

About AbbVie

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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