Fi3 FINANCIAL ADVISORS LLC Sells 89 Shares of AbbVie Inc. (NYSE:ABBV)

Fi3 FINANCIAL ADVISORS LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,708 shares of the company’s stock after selling 89 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in AbbVie were worth $420,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Altfest L J & Co. Inc. raised its holdings in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock valued at $3,480,000 after acquiring an additional 215 shares in the last quarter. Torray Investment Partners LLC lifted its position in shares of AbbVie by 13.0% in the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. boosted its stake in shares of AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares in the last quarter. Amplius Wealth Advisors LLC increased its position in shares of AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after buying an additional 400 shares during the period. Finally, Opinicus Capital Inc. bought a new position in AbbVie in the fourth quarter worth about $1,296,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. 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 report on Monday, February 5th. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

NYSE ABBV traded up $2.98 during trading hours on Friday, hitting $163.79. The company’s stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. 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 market cap of $290.01 billion, a P/E ratio of 48.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. The company’s 50 day simple moving average is $173.13 and its two-hundred day simple moving average is $161.22. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.79%. AbbVie’s payout ratio is presently 183.98%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. 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 90 days. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.