GABELLI & Co INVESTMENT ADVISERS INC. Has $267,000 Stake in AbbVie Inc. (NYSE:ABBV)

GABELLI & Co INVESTMENT ADVISERS INC. cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 25.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,500 shares of the company’s stock after selling 500 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in AbbVie were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the fourth quarter worth $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Citigroup upped their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, StockNews.com lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $210.71.

AbbVie Stock Performance

Shares of ABBV stock opened at $176.84 on Wednesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm has a market capitalization of $312.82 billion, a PE ratio of 73.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The firm has a fifty day simple moving average of $199.59 and a two-hundred day simple moving average of $188.27. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the business posted $2.79 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by corporate insiders.

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.