AbbVie Inc. (NYSE:ABBV) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,290 shares of the company’s stock after selling 338 shares during the period. Institute for Wealth Management LLC.’s holdings in AbbVie were worth $3,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hibernia Wealth Partners LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. bought a new position in AbbVie during the 2nd quarter worth $38,000. True Wealth Design LLC bought a new position in AbbVie during the 4th quarter worth $39,000. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new position in AbbVie during the 3rd quarter worth $45,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the company’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 transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.9 %

Shares of ABBV stock traded up $1.47 on Friday, hitting $166.13. 3,306,696 shares of the stock were exchanged, compared to its average volume of 5,605,276. 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 firm has a market capitalization of $294.16 billion, a P/E ratio of 60.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The business has a 50-day moving average of $175.59 and a 200 day moving average of $159.97. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating 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 firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 11.18 EPS for the current year.

AbbVie Dividend Announcement

The company 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 3.73%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays increased their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Finally, Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three research 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 stock. Based on data from MarketBeat, the stock presently 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.