Sandy Spring Bank Sells 4,136 Shares of AbbVie Inc. (NYSE:ABBV)

Sandy Spring Bank lessened its position in AbbVie Inc. (NYSE:ABBV) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,939 shares of the company’s stock after selling 4,136 shares during the period. Sandy Spring Bank’s holdings in AbbVie were worth $6,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Custom Index Systems LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $318,000. Mendel Capital Management LLC boosted its holdings in shares of AbbVie by 4.4% during the 4th quarter. Mendel Capital Management LLC now owns 6,021 shares of the company’s stock worth $933,000 after buying an additional 254 shares during the period. Cherry Creek Investment Advisors Inc. boosted its holdings in shares of AbbVie by 1.1% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 29,257 shares of the company’s stock worth $4,534,000 after buying an additional 329 shares during the period. Krilogy Financial LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $1,689,000. Finally, Charter Oak Capital Management LLC boosted its holdings in shares of AbbVie by 4.7% during the 4th quarter. Charter Oak Capital Management LLC now owns 7,871 shares of the company’s stock worth $1,220,000 after buying an additional 356 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 directly owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $167.52 on Friday. The firm has a 50 day moving average of $176.55 and a 200-day moving average of $159.61. The stock has a market capitalization of $296.62 billion, a PE ratio of 61.36, a PEG ratio of 2.15 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. On average, equities research analysts predict that AbbVie Inc. will post 11.11 EPS 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 227.11%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie 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.