Oliver Lagore Vanvalin Investment Group Sells 104 Shares of AbbVie Inc. (NYSE:ABBV)

Oliver Lagore Vanvalin Investment Group lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 32.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 221 shares of the company’s stock after selling 104 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in AbbVie were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Capital Management Inc. grew its position in AbbVie by 3.9% in the 4th quarter. Twin Capital Management Inc. now owns 38,181 shares of the company’s stock worth $5,917,000 after purchasing an additional 1,417 shares during the period. CapWealth Advisors LLC grew its position in AbbVie by 11.2% in the 4th quarter. CapWealth Advisors LLC now owns 2,827 shares of the company’s stock worth $438,000 after purchasing an additional 284 shares during the period. Federated Hermes Inc. grew its position in AbbVie by 23.6% in the 4th quarter. Federated Hermes Inc. now owns 2,292,653 shares of the company’s stock worth $355,292,000 after purchasing an additional 437,672 shares during the period. Wright Investors Service Inc. grew its position in AbbVie by 16.2% in the 4th quarter. Wright Investors Service Inc. now owns 46,272 shares of the company’s stock worth $7,171,000 after purchasing an additional 6,438 shares during the period. Finally, Waterfront Wealth Inc. grew its position in AbbVie by 2.9% in the 4th quarter. Waterfront Wealth Inc. now owns 7,333 shares of the company’s stock worth $1,136,000 after purchasing an additional 204 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial lifted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three research 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’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $177.43.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $164.66 on Friday. 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 company has a market cap of $291.56 billion, a P/E ratio of 60.32, a P/E/G ratio of 2.11 and a beta of 0.58. The firm’s fifty day moving average is $175.59 and its two-hundred day moving average is $159.97. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’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 firm posted $3.60 EPS. As a group, analysts anticipate that AbbVie Inc. will post 11.18 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm 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. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.77%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.