Sound Financial Strategies Group LLC Cuts Stock Position in AbbVie Inc. (NYSE:ABBV)

Sound Financial Strategies Group LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,866 shares of the company’s stock after selling 1,974 shares during the period. Sound Financial Strategies Group LLC’s holdings in AbbVie were worth $599,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 3rd quarter valued at $45,000. Core Wealth Advisors Inc. increased its holdings in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after acquiring an additional 285 shares during the period. Bourgeon Capital Management LLC increased its stake in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in AbbVie in the 4th quarter valued at $53,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

AbbVie Stock Down 1.0 %

Shares of ABBV stock traded down $1.71 on Wednesday, hitting $167.83. 4,074,754 shares of the stock were exchanged, compared to its average volume of 5,594,750. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $297.17 billion, a P/E ratio of 61.48, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The business has a 50-day moving average of $175.13 and a 200 day moving average of $160.62. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $3.60 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. 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 over the last ninety days. 0.25% of the stock is currently owned by insiders.

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.