OmniStar Financial Group Inc. Sells 958 Shares of AbbVie Inc. (NYSE:ABBV)

OmniStar Financial Group Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,750 shares of the company’s stock after selling 958 shares during the quarter. AbbVie makes up about 2.5% of OmniStar Financial Group Inc.’s investment portfolio, making the stock its 6th largest position. OmniStar Financial Group Inc.’s holdings in AbbVie were worth $1,976,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ABBV. VitalStone Financial LLC boosted its stake in AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares in the last quarter. Hibernia Wealth Partners LLC acquired a new position in AbbVie in the third quarter worth $36,000. PCA Investment Advisory Services Inc. acquired a new position in AbbVie in the second quarter worth $38,000. True Wealth Design LLC acquired a new position in AbbVie in the fourth quarter worth $39,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.4 %

Shares of NYSE ABBV traded up $0.67 during mid-day trading on Tuesday, reaching $179.20. 4,392,374 shares of the company’s stock were exchanged, compared to its average volume of 5,711,853. The firm has a market capitalization of $317.30 billion, a price-to-earnings ratio of 65.64, a PEG ratio of 2.27 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business has a fifty day simple moving average of $173.79 and a 200 day simple moving average of $157.59. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie’s payout ratio is presently 227.11%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and dropped their target price for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price for the company in a research report on Monday, December 11th. Finally, Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.71.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the firm’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 value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, 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. Over the last three months, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

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.