AbbVie Inc. (NYSE:ABBV) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,252 shares of the company’s stock after selling 300 shares during the period. Quantum Private Wealth LLC’s holdings in AbbVie were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Hibernia Wealth Partners LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $36,000. PCA Investment Advisory Services Inc. acquired a new position in AbbVie during the second quarter worth approximately $38,000. True Wealth Design LLC purchased a new position in AbbVie during the fourth quarter worth approximately $39,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 3rd quarter valued at $45,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on ABBV shares. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets boosted their price objective 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. Finally, Barclays raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three 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 company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Stock Up 0.5 %

Shares of NYSE:ABBV traded up $0.87 during trading on Wednesday, hitting $162.54. The company’s stock had a trading volume of 4,881,516 shares, compared to its average volume of 5,260,014. The company has a market capitalization of $287.80 billion, a PE ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. 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 stock’s 50-day moving average price is $176.01 and its two-hundred day moving average price is $159.91.

AbbVie (NYSE:ABBV) last announced its earnings results 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. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the company posted $3.60 EPS. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 11.12 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last quarter. 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.