Lbmc Investment Advisors LLC Sells 270 Shares of AbbVie Inc. (NYSE:ABBV)

Lbmc Investment Advisors LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,830 shares of the company’s stock after selling 270 shares during the period. Lbmc Investment Advisors LLC’s holdings in AbbVie were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. O Dell Group LLC raised its position in shares of AbbVie by 108.7% during the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its position in shares of AbbVie by 85.3% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after buying an additional 93 shares during the last quarter. Align Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $27,000. Activest Wealth Management acquired a new position in shares of AbbVie during the third quarter valued at about $31,000. Finally, Clear Perspectives Financial Planning LLC acquired a new position in shares of AbbVie during the third quarter valued at about $33,000. 67.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Scott T. Reents sold 15,942 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the sale, the chief financial officer now directly owns 809 shares of the company’s stock, valued at $123,841.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, CFO Scott T. Reents sold 15,942 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total value of $2,440,401.36. Following the transaction, the chief financial officer now directly owns 809 shares of the company’s stock, valued at $123,841.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $150.50, for a total transaction of $1,505,000.00. Following the completion of the transaction, the director now directly owns 40,705 shares in the company, valued at $6,126,102.50. The disclosure for this sale can be found here. Insiders have sold 159,746 shares of company stock valued at $24,267,450 over the last three months. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Piper Sandler upped their price objective on shares of AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. BMO Capital Markets cut their price objective on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Guggenheim began coverage on shares of AbbVie in a research report on Tuesday, February 28th. They issued a “buy” rating and a $172.00 price target for the company. Wolfe Research lowered shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Finally, SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $135.00 to $153.00 in a research report on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $161.12.

AbbVie Stock Performance

NYSE ABBV opened at $154.22 on Friday. The firm has a market cap of $272.88 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.50 and a beta of 0.62. The company has a 50 day moving average of $151.13 and a 200-day moving average of $150.82. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 3.42. AbbVie Inc. has a 1-year low of $134.09 and a 1-year high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. AbbVie had a net margin of 20.39% and a return on equity of 154.52%. The business had revenue of $15.12 billion for the quarter, compared to analysts’ expectations of $15.30 billion. During the same period in the prior year, the firm earned $3.31 earnings per share. AbbVie’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 11 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $5.92 annualized dividend and a dividend yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is currently 89.56%.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.