Pathstone Holdings LLC Sells 1,787 Shares of AbbVie Inc. (NYSE:ABBV)

Pathstone Holdings LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 240,576 shares of the company’s stock after selling 1,787 shares during the quarter. Pathstone Holdings LLC’s holdings in AbbVie were worth $42,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $29,000. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the period. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $32,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price objective on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $211.41.

AbbVie Stock Down 1.1%

ABBV opened at $187.95 on Wednesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock’s fifty day simple moving average is $193.34 and its 200 day simple moving average is $187.23. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $332.48 billion, a PE ratio of 78.31, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.49%. AbbVie’s payout ratio is 279.15%.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by insiders.

About AbbVie

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.