AbbVie Inc. (NYSE:ABBV) Shares Sold by Mountain Pacific Investment Advisers Inc. ID

Mountain Pacific Investment Advisers Inc. ID cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,714 shares of the company’s stock after selling 150 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in AbbVie were worth $2,745,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wagner Wealth Management LLC lifted its holdings in AbbVie by 4.9% in the third quarter. Wagner Wealth Management LLC now owns 7,284 shares of the company’s stock valued at $1,086,000 after acquiring an additional 337 shares during the period. Boston Trust Walden Corp lifted its holdings in AbbVie by 9.7% in the third quarter. Boston Trust Walden Corp now owns 26,668 shares of the company’s stock valued at $3,975,000 after acquiring an additional 2,353 shares during the period. Riverwater Partners LLC lifted its holdings in AbbVie by 28.6% in the third quarter. Riverwater Partners LLC now owns 2,149 shares of the company’s stock valued at $320,000 after acquiring an additional 478 shares during the period. Strategic Blueprint LLC lifted its holdings in AbbVie by 2.6% in the third quarter. Strategic Blueprint LLC now owns 11,306 shares of the company’s stock valued at $1,685,000 after acquiring an additional 286 shares during the period. Finally, Caprock Group LLC raised its stake in shares of AbbVie by 1.8% during the 3rd quarter. Caprock Group LLC now owns 16,427 shares of the company’s stock worth $2,449,000 after buying an additional 287 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Finally, Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 4.6 %

ABBV opened at $159.62 on Friday. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The business has a 50-day moving average of $174.59 and a two-hundred day moving average of $160.82. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, research analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

About AbbVie

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.