Deseret Mutual Benefit Administrators Sells 85 Shares of AbbVie Inc. (NYSE:ABBV)

Deseret Mutual Benefit Administrators reduced its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,660 shares of the company’s stock after selling 85 shares during the period. AbbVie makes up about 0.8% of Deseret Mutual Benefit Administrators’ holdings, making the stock its 18th largest holding. Deseret Mutual Benefit Administrators’ holdings in AbbVie were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. GGM Financials LLC boosted its stake in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. WFA Asset Management Corp raised its holdings in shares of AbbVie by 0.8% during the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after acquiring an additional 55 shares in the last quarter. Physicians Financial Services Inc. boosted its position in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the last quarter. Finally, Carr Financial Group Corp grew its holdings in shares of AbbVie by 1.1% in the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after purchasing an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 0.6 %

NYSE ABBV opened at $202.03 on Friday. The stock has a market cap of $356.64 billion, a PE ratio of 84.18, a PEG ratio of 1.58 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company’s 50-day moving average price is $180.68 and its 200-day moving average price is $186.29. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 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 in the prior year, the company earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

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.