Bryn Mawr Capital Management LLC Has $990,000 Position in AbbVie Inc. (NYSE:ABBV)

Bryn Mawr Capital Management LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,390 shares of the company’s stock after selling 248 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in AbbVie were worth $990,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Aspen Wealth Strategies LLC boosted its holdings in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares during the last quarter. Avion Wealth boosted its holdings in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the last quarter. First Bank & Trust raised its stake in AbbVie by 0.4% in the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after acquiring an additional 68 shares during the period. Finally, Hudock Inc. raised its stake in AbbVie by 2.5% in the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after acquiring an additional 68 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Stock Down 4.6 %

NYSE:ABBV opened at $159.62 on Friday. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company’s 50-day simple moving average is $174.59 and its 200-day simple moving average is $160.74.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

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.