Carret Asset Management LLC Sells 130 Shares of AbbVie Inc. (NYSE:ABBV)

Carret Asset Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,346 shares of the company’s stock after selling 130 shares during the quarter. AbbVie accounts for approximately 1.0% of Carret Asset Management LLC’s holdings, making the stock its 17th biggest holding. Carret Asset Management LLC’s holdings in AbbVie were worth $8,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its stake in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in AbbVie during the 3rd quarter valued at about $45,000. Bourgeon Capital Management LLC lifted its position in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the period. Naples Money Management LLC acquired a new position in AbbVie during the 4th quarter valued at about $53,000. Finally, Core Wealth Advisors Inc. lifted its position in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ABBV. Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

NYSE ABBV traded down $1.71 during trading on Wednesday, hitting $167.83. 4,074,754 shares of the company’s stock were exchanged, compared to its average volume of 5,594,750. 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 company has a market cap of $297.17 billion, a PE ratio of 61.56, a P/E/G ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock’s 50 day moving average price is $175.26 and its two-hundred day moving average price is $160.57.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the 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 directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

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.