AbbVie Inc. (NYSE:ABBV) Stake Lessened by Abbrea Capital LLC

Abbrea Capital LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,227 shares of the company’s stock after selling 305 shares during the period. Abbrea Capital LLC’s holdings in AbbVie were worth $4,994,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its holdings in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the third quarter valued at $45,000. Core Wealth Advisors Inc. boosted its holdings in shares of AbbVie by 459.7% during the third 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 boosted its holdings in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at $53,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 4.6 %

Shares of ABBV traded down $7.67 during trading hours on Friday, reaching $159.62. The company’s stock had a trading volume of 10,630,765 shares, compared to its average volume of 5,657,038. The firm has a market cap of $282.63 billion, a price-to-earnings ratio of 58.94, a P/E/G ratio of 2.13 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a 50 day moving average of $174.94 and a two-hundred day moving average of $160.67.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.20 by $0.11. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. As a group, research analysts predict that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s payout ratio is currently 227.11%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets upped their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial upped their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three equities research 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. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $177.43.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now 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 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is currently owned by company 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.