AbbVie Inc. (NYSE:ABBV) Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC reduced its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,616 shares of the company’s stock after selling 133 shares during the quarter. Ellis Investment Partners LLC’s holdings in AbbVie were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. VitalStone Financial LLC increased its stake in AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new stake in AbbVie during the third quarter valued at about $36,000. PCA Investment Advisory Services Inc. purchased a new stake in AbbVie during the second quarter valued at about $38,000. True Wealth Design LLC purchased a new stake in AbbVie during the fourth quarter valued at about $39,000. Finally, Blue Bell Private Wealth Management LLC grew its position in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 3.1 %

ABBV traded down $5.21 on Friday, reaching $162.31. The company’s stock had a trading volume of 7,029,448 shares, compared to its average volume of 5,675,294. The stock has a market cap of $287.39 billion, a price-to-earnings ratio of 59.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.58. 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 current ratio of 0.87 and a quick ratio of 0.76. The business’s 50 day moving average is $176.55 and its 200 day moving average is $159.61.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the business posted $3.60 earnings per share. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts forecast that AbbVie Inc. will post 11.11 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. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.82%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and lowered their price target for the company from $167.00 to $156.00 in a research report on Monday, December 18th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Get Our Latest Report on AbbVie

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value 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. Insiders have sold 383,324 shares of company stock worth $67,780,003 over the last quarter. 0.25% of the stock is owned by corporate insiders.

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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