Sowell Financial Services LLC Has $10.41 Million Stake in AbbVie Inc. (NYSE:ABBV)

Sowell Financial Services LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 58,572 shares of the company’s stock after purchasing an additional 746 shares during the period. Sowell Financial Services LLC’s holdings in AbbVie were worth $10,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $1,190,951,000. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 3,599,336 shares during the period. State Street Corp increased its holdings in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of AbbVie by 26,693.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after buying an additional 1,172,362 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $186,431,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV opened at $214.55 on Friday. The company has a market capitalization of $378.75 billion, a price-to-earnings ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $215.66. The stock has a fifty day simple moving average of $187.63 and a 200 day simple moving average of $187.53. 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 (NYSE:ABBV) last posted its quarterly earnings data 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 period last year, the business earned $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Daiwa America downgraded 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 issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by company 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.