AbbVie Inc. (NYSE:ABBV) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,740,223 shares of the company’s stock after selling 36,274 shares during the period. National Bank of Canada FI owned approximately 0.10% of AbbVie worth $278,115,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. TCG Advisory Services LLC boosted its holdings in shares of AbbVie by 38.5% in the fourth quarter. TCG Advisory Services LLC now owns 58,648 shares of the company’s stock valued at $9,089,000 after acquiring an additional 16,293 shares in the last quarter. AJOVista LLC purchased a new stake in AbbVie in the 4th quarter valued at approximately $250,000. Provence Wealth Management Group raised its stake in shares of AbbVie by 9.3% during the 4th quarter. Provence Wealth Management Group now owns 3,907 shares of the company’s stock worth $605,000 after buying an additional 331 shares in the last quarter. Blue Fin Capital Inc. lifted its holdings in shares of AbbVie by 0.7% in the 4th quarter. Blue Fin Capital Inc. now owns 14,465 shares of the company’s stock valued at $2,242,000 after buying an additional 99 shares during the period. Finally, VeraBank N.A. boosted its stake in shares of AbbVie by 2.2% in the fourth quarter. VeraBank N.A. now owns 13,102 shares of the company’s stock valued at $2,030,000 after buying an additional 279 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the company’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 transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’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 sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABBV shares. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Truist Financial increased 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, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

AbbVie Trading Up 1.9 %

Shares of NYSE ABBV traded up $2.98 during trading on Friday, hitting $163.79. 5,850,102 shares of the company traded hands, compared to its average volume of 5,457,836. 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 firm has a market capitalization of $290.01 billion, a P/E ratio of 48.60, a P/E/G ratio of 2.03 and a beta of 0.61. The company has a 50-day moving average price of $173.42 and a 200-day moving average price of $161.10. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last issued 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. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.79%. AbbVie’s dividend payout ratio is currently 183.98%.

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.