Resolute Wealth Strategies LLC Sells 158 Shares of AbbVie Inc. (NYSE:ABBV)

Resolute Wealth Strategies LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,750 shares of the company’s stock after selling 158 shares during the period. Resolute Wealth Strategies LLC’s holdings in AbbVie were worth $581,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AJOVista LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $250,000. Provence Wealth Management Group boosted its stake in shares of AbbVie by 9.3% in the 4th quarter. Provence Wealth Management Group now owns 3,907 shares of the company’s stock worth $605,000 after buying an additional 331 shares during the last quarter. Blue Fin Capital Inc. grew its holdings in shares of AbbVie by 0.7% in the fourth quarter. Blue Fin Capital Inc. now owns 14,465 shares of the company’s stock valued at $2,242,000 after acquiring an additional 99 shares in the last quarter. VeraBank N.A. increased its position in shares of AbbVie by 2.2% during the fourth quarter. VeraBank N.A. now owns 13,102 shares of the company’s stock valued at $2,030,000 after acquiring an additional 279 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its holdings in AbbVie by 6.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,419 shares of the company’s stock worth $1,305,000 after acquiring an additional 505 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $174.31.

Insider Activity at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $2.98 during mid-day trading on Friday, hitting $163.79. The company had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The stock’s 50-day moving average price is $173.13 and its 200-day moving average price is $161.22. The company has a market capitalization of $290.01 billion, a price-to-earnings ratio of 48.60, a P/E/G ratio of 2.07 and a beta of 0.61. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The company 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 $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

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.