Lakeside Advisors INC. Sells 255 Shares of AbbVie Inc. (NYSE:ABBV)

Lakeside Advisors INC. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,966 shares of the company’s stock after selling 255 shares during the quarter. AbbVie makes up approximately 1.9% of Lakeside Advisors INC.’s holdings, making the stock its 13th largest holding. Lakeside Advisors INC.’s holdings in AbbVie were worth $2,784,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Hibernia Wealth Partners LLC purchased a new position in shares of AbbVie during the third quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie during the second quarter valued at approximately $38,000. True Wealth Design LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the third quarter valued at approximately $45,000. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’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 completion of 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 383,324 shares of company stock valued at $67,780,003 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

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

AbbVie Price Performance

Shares of ABBV stock traded up $0.87 on Wednesday, reaching $162.54. 4,881,516 shares of the company were exchanged, compared to its average volume of 5,260,014. The company has a market cap of $287.80 billion, a price-to-earnings ratio of 59.54, a P/E/G ratio of 2.09 and a beta of 0.58. The business has a 50-day moving average price of $176.01 and a 200 day moving average price of $159.91. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last released 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. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 11.12 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is currently 227.11%.

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.