AbbVie Inc. (NYSE:ABBV) Shares Sold by Schnieders Capital Management LLC

Schnieders Capital Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,556 shares of the company’s stock after selling 5,843 shares during the quarter. AbbVie accounts for 0.9% of Schnieders Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Schnieders Capital Management LLC’s holdings in AbbVie were worth $4,115,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC grew its position 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 acquiring an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new position in shares of AbbVie during the 3rd quarter worth $45,000. Core Wealth Advisors Inc. increased its position in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC raised its holdings in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in AbbVie in the fourth quarter valued at about $53,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 1.0 %

AbbVie stock traded up $1.65 during trading on Tuesday, reaching $169.54. The stock had a trading volume of 4,084,061 shares, compared to its average volume of 5,615,517. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The business has a 50 day moving average price of $175.26 and a 200 day moving average price of $160.57. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market cap of $300.20 billion, a PE ratio of 62.10, a P/E/G ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its 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. 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 quarter in the previous year, the firm posted $3.60 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced 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 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays raised their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Company 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.