Tanager Wealth Management LLP Has $354,000 Stake in AbbVie Inc. (NYSE:ABBV)

Tanager Wealth Management LLP decreased its position in AbbVie Inc. (NYSE:ABBV) by 14.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,283 shares of the company’s stock after selling 378 shares during the period. Tanager Wealth Management LLP’s holdings in AbbVie were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Aspen Wealth Strategies LLC increased its stake in AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares in the last quarter. Avion Wealth increased its stake in AbbVie by 11.9% in the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares in the last quarter. Goepper Burkhardt LLC increased its stake in AbbVie by 1.9% in the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares in the last quarter. First Bank & Trust increased its stake in AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares in the last quarter. Finally, Hudock Inc. increased its stake in AbbVie by 2.5% in the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock traded up $1.76 on Friday, reaching $166.42. 5,532,409 shares of the company traded hands, compared to its average volume of 5,636,134. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a 50 day moving average of $175.59 and a 200 day moving average of $159.97. The firm has a market capitalization of $294.67 billion, a PE ratio of 60.96, a PEG ratio of 2.11 and a beta of 0.58. 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. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm earned $3.60 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 11.18 earnings per share for the current year.

AbbVie Announces Dividend

The firm 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 $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Buying and Selling

In related news, 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 directly 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 can be accessed through this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

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.