Delta Asset Management LLC TN Has $6.37 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Delta Asset Management LLC TN trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,835 shares of the company’s stock after selling 1,388 shares during the period. Delta Asset Management LLC TN’s holdings in AbbVie were worth $6,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. State Street Corp raised its holdings in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the period. Finally, Amundi increased its position in AbbVie by 9.4% during the fourth quarter. Amundi now owns 8,347,296 shares of the company’s stock worth $1,489,992,000 after acquiring an additional 717,403 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $201.16 on Thursday. The company has a 50 day moving average of $196.25 and a two-hundred day moving average of $188.87. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a market cap of $355.13 billion, a price-to-earnings ratio of 83.82, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABBV shares. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.