Wealthspire Advisors LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Wealthspire Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,306 shares of the company’s stock after selling 177 shares during the quarter. Wealthspire Advisors LLC’s holdings in AbbVie were worth $8,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC increased its position in shares of AbbVie by 2.8% in the fourth quarter. Catalyst Financial Partners LLC now owns 10,902 shares of the company’s stock valued at $1,690,000 after acquiring an additional 296 shares during the period. E Fund Management Co. Ltd. raised its position in AbbVie by 8.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 6,969 shares of the company’s stock valued at $1,080,000 after purchasing an additional 550 shares during the last quarter. Clearwater Capital Advisors LLC raised its position in AbbVie by 4.7% during the 4th quarter. Clearwater Capital Advisors LLC now owns 1,947 shares of the company’s stock valued at $302,000 after purchasing an additional 88 shares during the last quarter. National Pension Service lifted its holdings in AbbVie by 2.0% in the 4th quarter. National Pension Service now owns 2,812,107 shares of the company’s stock worth $435,792,000 after buying an additional 54,185 shares during the period. Finally, Verus Financial Partners Inc. grew its position in shares of AbbVie by 11.3% in the 4th quarter. Verus Financial Partners Inc. now owns 3,670 shares of the company’s stock worth $603,000 after buying an additional 373 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV traded down $0.07 during mid-day trading on Thursday, hitting $160.38. 3,570,052 shares of the company traded hands, compared to its average volume of 5,639,635. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. 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 50-day moving average price of $171.83 and a two-hundred day moving average price of $161.61. The stock has a market cap of $283.21 billion, a price-to-earnings ratio of 47.59, a P/E/G ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.87%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Buying and Selling at AbbVie

In other news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ABBV. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

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.