Strategic Financial Concepts LLC Sells 1,343 Shares of AbbVie Inc. (NYSE:ABBV)

Strategic Financial Concepts LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 40.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,970 shares of the company’s stock after selling 1,343 shares during the period. Strategic Financial Concepts LLC’s holdings in AbbVie were worth $305,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares during the period. State Street Corp grew its position in shares of AbbVie by 1.5% during the 2nd quarter. State Street Corp now owns 78,182,567 shares of the company’s stock worth $10,533,537,000 after buying an additional 1,156,130 shares during the period. Morgan Stanley grew its position in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after buying an additional 29,170,366 shares during the period. Finally, Northern Trust Corp grew its position in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after buying an additional 491,391 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and cut their price target for the company from $167.00 to $156.00 in a research note on Monday, December 18th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets boosted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective on the stock in a research report on Monday, December 11th. Finally, Barclays boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four 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’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated 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 directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last quarter. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Up 1.0 %

NYSE ABBV traded up $1.75 during trading hours on Friday, reaching $182.10. The company’s stock had a trading volume of 5,418,687 shares, compared to its average volume of 6,578,465. The firm has a fifty day simple moving average of $174.89 and a 200-day simple moving average of $158.13. The stock has a market cap of $322.44 billion, a P/E ratio of 66.70, a P/E/G ratio of 2.29 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

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

AbbVie Dividend Announcement

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 given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

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.