Forest Hill Capital LLC Acquires 600 Shares of AbbVie Inc. (NYSE:ABBV)

Forest Hill Capital LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,200 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Forest Hill Capital LLC’s holdings in AbbVie were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its holdings in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its position in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after acquiring an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its stake in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after purchasing an additional 58 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Finally, Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $211.41.

AbbVie Trading Down 0.7 %

Shares of ABBV opened at $184.30 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock has a market cap of $326.02 billion, a price-to-earnings ratio of 76.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The firm has a 50 day simple moving average of $194.23 and a 200-day simple moving average of $187.23.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.56%. AbbVie’s payout ratio is currently 279.15%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.08% of the company’s stock.

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.