Masso Torrence Wealth Management Inc. Sells 1,860 Shares of AbbVie Inc. (NYSE:ABBV)

Masso Torrence Wealth Management Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,863 shares of the company’s stock after selling 1,860 shares during the quarter. AbbVie makes up 1.3% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Masso Torrence Wealth Management Inc.’s holdings in AbbVie were worth $1,838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $513,000. Kingdom Financial Group LLC. grew its stake in AbbVie by 31.8% in the 3rd quarter. Kingdom Financial Group LLC. now owns 2,357 shares of the company’s stock valued at $351,000 after buying an additional 569 shares during the last quarter. Artemis Investment Management LLP grew its stake in AbbVie by 28.7% in the 3rd quarter. Artemis Investment Management LLP now owns 388,095 shares of the company’s stock valued at $57,823,000 after buying an additional 86,638 shares during the last quarter. Cassia Capital Partners LLC grew its stake in AbbVie by 2.1% in the 3rd quarter. Cassia Capital Partners LLC now owns 3,546 shares of the company’s stock valued at $529,000 after buying an additional 74 shares during the last quarter. Finally, Rothschild Investment LLC IL grew its stake in AbbVie by 1.4% in the 3rd quarter. Rothschild Investment LLC IL now owns 127,653 shares of the company’s stock valued at $19,028,000 after buying an additional 1,740 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’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 transaction, 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. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets increased their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. 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 company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Price Performance

NYSE:ABBV traded up $1.23 on Tuesday, hitting $169.12. The company had a trading volume of 2,611,674 shares, compared to its average volume of 5,594,780. The stock has a market capitalization of $299.45 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 2.14 and a beta of 0.58. 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 50 day moving average of $175.34 and a two-hundred day moving average of $160.42. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

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

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend yield of 3.67%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

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.