AbbVie Inc. (NYSE:ABBV) Shares Sold by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,280 shares of the company’s stock after selling 64 shares during the quarter. AbbVie comprises approximately 1.0% of Laurel Wealth Advisors LLC’s holdings, making the stock its 28th largest holding. Laurel Wealth Advisors LLC’s holdings in AbbVie were worth $5,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aspen Wealth Strategies LLC increased its holdings in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares in the last quarter. Avion Wealth increased its holdings in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares in the last quarter. White Pine Capital LLC increased its holdings in AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after acquiring an additional 65 shares in the last quarter. Finally, JNBA Financial Advisors increased its holdings in AbbVie by 0.7% in the 4th quarter. JNBA Financial Advisors now owns 9,208 shares of the company’s stock worth $1,427,000 after acquiring an additional 66 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Robert A. Michael sold 68,879 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the sale, the chief operating officer now directly owns 98,645 shares of the company’s stock, valued at approximately $17,405,910.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott T. Reents sold 14,140 shares of the company’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 transaction of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 4.6 %

NYSE:ABBV traded down $7.67 on Friday, hitting $159.62. The stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market cap of $282.63 billion, a price-to-earnings ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58. The company has a fifty day moving average price of $174.59 and a two-hundred day moving average price of $160.74. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Equities research analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analysts Set New Price Targets

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

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.