Schulhoff & Co. Inc. Cuts Stock Position in AbbVie Inc. (NYSE:ABBV)

Schulhoff & Co. Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,708 shares of the company’s stock after selling 110 shares during the period. AbbVie makes up approximately 2.1% of Schulhoff & Co. Inc.’s holdings, making the stock its 10th largest position. Schulhoff & Co. Inc.’s holdings in AbbVie were worth $4,924,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the 4th quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.0 %

Shares of ABBV opened at $205.06 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market cap of $362.00 billion, a P/E ratio of 85.44, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company’s fifty day simple moving average is $183.75 and its 200-day simple moving average is $186.85.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the company posted $2.79 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial upped their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group raised their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.