Stolper Co Sells 3,469 Shares of AbbVie Inc. (NYSE:ABBV)

Stolper Co trimmed its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,080 shares of the company’s stock after selling 3,469 shares during the period. Stolper Co’s holdings in AbbVie were worth $2,437,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ABBV. GYL Financial Synergies LLC boosted its holdings in AbbVie by 0.7% during the third quarter. GYL Financial Synergies LLC now owns 10,051 shares of the company’s stock worth $1,349,000 after purchasing an additional 72 shares during the last quarter. Syntal Capital Partners LLC boosted its holdings in AbbVie by 0.9% during the third quarter. Syntal Capital Partners LLC now owns 7,811 shares of the company’s stock worth $1,048,000 after purchasing an additional 72 shares during the last quarter. Headinvest LLC boosted its holdings in AbbVie by 0.5% during the third quarter. Headinvest LLC now owns 14,412 shares of the company’s stock worth $1,934,000 after purchasing an additional 73 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in AbbVie by 1.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,980 shares of the company’s stock worth $803,000 after purchasing an additional 74 shares during the last quarter. Finally, Libra Wealth LLC boosted its holdings in AbbVie by 2.5% during the third quarter. Libra Wealth LLC now owns 3,135 shares of the company’s stock worth $421,000 after purchasing an additional 75 shares during the last quarter. 67.71% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Elaine K. Sorg sold 15,003 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total value of $2,325,465.00. Following the transaction, the senior vice president now directly owns 42,829 shares of the company’s stock, valued at approximately $6,638,495. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Azita Saleki-Gerhardt sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $149.53, for a total value of $3,738,250.00. Following the sale, the executive vice president now directly owns 233,208 shares in the company, valued at approximately $34,871,592.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Elaine K. Sorg sold 15,003 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the completion of the sale, the senior vice president now owns 42,829 shares in the company, valued at $6,638,495. The disclosure for this sale can be found here. Insiders have sold a total of 159,746 shares of company stock valued at $24,267,450 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $154.22 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 3.42. AbbVie Inc. has a 12 month low of $134.09 and a 12 month high of $175.91. The firm has a market cap of $272.88 billion, a P/E ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62. The company’s 50-day moving average price is $151.13 and its two-hundred day moving average price is $150.93.

AbbVie (NYSE:ABBV – Get Rating) last released its 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 firm had revenue of $15.12 billion for the quarter, compared to analyst estimates of $15.30 billion. During the same period last year, the firm earned $3.31 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 11 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, April 13th. AbbVie’s dividend payout ratio is currently 89.56%.

Analysts Set New Price Targets

A number of analysts have commented on ABBV shares. Truist Financial increased their price target on shares of AbbVie from $160.00 to $180.00 in a research note on Thursday, January 5th. SVB Securities upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their price target for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Wolfe Research cut shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Piper Jaffray Companies raised their target price on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, February 10th. Finally, Piper Sandler raised their price target on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research report on Thursday, February 9th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $161.12.

AbbVie Profile

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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.