Dover Advisors LLC Sells 1,390 Shares of AbbVie Inc. (NYSE:ABBV)

Dover Advisors LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,203 shares of the company’s stock after selling 1,390 shares during the period. AbbVie accounts for about 1.3% of Dover Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Dover Advisors LLC’s holdings in AbbVie were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ABBV. Private Wealth Advisors LLC acquired a new stake in AbbVie in the 3rd quarter worth $201,000. Blue Fin Capital Inc. grew its position in AbbVie by 0.8% in the 3rd quarter. Blue Fin Capital Inc. now owns 14,366 shares of the company’s stock worth $2,141,000 after purchasing an additional 111 shares during the last quarter. WestEnd Advisors LLC boosted its position in shares of AbbVie by 29.9% during the 3rd quarter. WestEnd Advisors LLC now owns 128,176 shares of the company’s stock valued at $19,106,000 after acquiring an additional 29,506 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of AbbVie by 1.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 26,870 shares of the company’s stock valued at $4,005,000 after acquiring an additional 411 shares in the last quarter. Finally, Consolidated Investment Group LLC boosted its position in shares of AbbVie by 32.7% during the 3rd quarter. Consolidated Investment Group LLC now owns 14,600 shares of the company’s stock valued at $2,176,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV traded down $7.67 during trading on Friday, reaching $159.62. The company had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The business’s 50 day moving average price is $174.59 and its 200-day moving average price is $160.90. 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 has a market cap of $282.63 billion, a PE ratio of 47.37, a PEG ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABBV. Truist Financial lifted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets lifted their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, 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 383,324 shares of company stock worth $67,780,003 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.