Magnolia Capital Advisors LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Magnolia Capital Advisors LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,444 shares of the company’s stock after selling 148 shares during the period. Magnolia Capital Advisors LLC’s holdings in AbbVie were worth $568,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ABBV. Aspen Wealth Strategies LLC boosted its stake in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after buying an additional 61 shares during the period. Marks Group Wealth Management Inc increased its holdings in AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares in the last quarter. Avion Wealth increased its holdings 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 buying an additional 65 shares in the last quarter. First Bank & Trust increased its holdings 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 buying an additional 68 shares in the last quarter. Finally, Hudock Inc. grew its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $1.71 during trading hours on Wednesday, hitting $167.83. 4,074,754 shares of the stock were exchanged, compared to its average volume of 5,594,750. 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 company’s 50 day moving average is $175.26 and its 200 day moving average is $160.57. The firm has a market capitalization of $297.17 billion, a P/E ratio of 61.56, a P/E/G ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 EPS. On average, research analysts expect that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 3.69%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBV shares. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial lifted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets lifted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.