Terra Nova Asset Management LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Terra Nova Asset Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,981 shares of the company’s stock after selling 1,163 shares during the quarter. Terra Nova Asset Management LLC’s holdings in AbbVie were worth $307,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ABBV. Hibernia Wealth Partners LLC purchased a new position in shares of AbbVie in the third quarter valued at approximately $36,000. VitalStone Financial LLC grew its holdings in shares of AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the period. True Wealth Design LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $39,000. KB Financial Partners LLC purchased a new position in AbbVie in the first quarter worth approximately $45,000. Finally, PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $38,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ABBV shares. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets lifted their target price 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 raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research note on Monday, December 11th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

Shares of NYSE ABBV opened at $181.97 on Friday. The stock’s 50-day simple moving average is $174.51 and its 200-day simple moving average is $157.96. 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 firm has a market capitalization of $322.21 billion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. 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 earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Announces Dividend

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 issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’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 completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is owned by insiders.

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.