AbbVie Inc. (NYSE:ABBV) Holdings Trimmed by Crescent Sterling Ltd.

Crescent Sterling Ltd. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the 1st quarter, Holdings Channel reports. The firm owned 21,664 shares of the company’s stock after selling 365 shares during the quarter. AbbVie makes up approximately 3.6% of Crescent Sterling Ltd.’s holdings, making the stock its 7th largest holding. Crescent Sterling Ltd.’s holdings in AbbVie were worth $3,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Wealth Advisors LLC purchased a new position in AbbVie in the third quarter valued at about $201,000. Blue Fin Capital Inc. boosted its stake in AbbVie by 0.8% in the third quarter. Blue Fin Capital Inc. now owns 14,366 shares of the company’s stock valued at $2,141,000 after acquiring an additional 111 shares during the last quarter. WestEnd Advisors LLC boosted its stake in AbbVie by 29.9% in the third quarter. WestEnd Advisors LLC now owns 128,176 shares of the company’s stock valued at $19,106,000 after acquiring an additional 29,506 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in AbbVie by 1.6% in the third quarter. Aaron Wealth Advisors LLC now owns 26,870 shares of the company’s stock valued at $4,005,000 after acquiring an additional 411 shares during the last quarter. Finally, Consolidated Investment Group LLC boosted its stake in AbbVie by 32.7% in the third quarter. Consolidated Investment Group LLC now owns 14,600 shares of the company’s stock valued at $2,176,000 after acquiring an additional 3,600 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on 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 owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research analyst reports. Raymond James boosted their target price 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. Truist Financial boosted their price target 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. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Price Performance

AbbVie stock traded up $1.17 during midday trading on Tuesday, reaching $162.69. 5,479,940 shares of the stock were exchanged, compared to its average volume of 5,662,850. The company’s fifty day moving average is $174.01 and its 200-day moving average is $161.10. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm has a market cap of $288.07 billion, a PE ratio of 48.28, a PEG ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

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.