Evolution Wealth Advisors LLC Has $272,000 Position in AbbVie Inc. (NYSE:ABBV)

Evolution Wealth Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,752 shares of the company’s stock after selling 364 shares during the period. Evolution Wealth Advisors LLC’s holdings in AbbVie were worth $272,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the last quarter. Morgan Stanley grew its position in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Northern Trust Corp grew its position in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after purchasing an additional 491,391 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in AbbVie by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after purchasing an additional 352,817 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.1 %

AbbVie stock traded up $1.76 during trading hours on Friday, reaching $166.42. The stock had a trading volume of 5,532,409 shares, compared to its average volume of 5,636,134. The stock has a market cap of $294.67 billion, a PE ratio of 60.96, a PEG ratio of 2.11 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a fifty day simple moving average of $175.59 and a 200-day simple moving average of $159.97.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company posted $3.60 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 11.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.73%. AbbVie’s dividend payout ratio is 227.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Raymond James upped their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets increased their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Company insiders own 0.25% of the company’s stock.

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.