Consolidated Planning Corp Sells 2,155 Shares of AbbVie Inc. (NYSE:ABBV)

Consolidated Planning Corp trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 38.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,469 shares of the company’s stock after selling 2,155 shares during the period. Consolidated Planning Corp’s holdings in AbbVie were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in ABBV. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 29,922.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after buying an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $499,955,000. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AbbVie by 201.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after buying an additional 1,433,236 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in AbbVie by 34.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock valued at $655,463,000 after purchasing an additional 1,130,638 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 4.6 %

NYSE ABBV traded down $7.67 on Friday, reaching $159.62. The stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The stock has a fifty day moving average price of $174.59 and a two-hundred day moving average price of $160.82. The firm has a market capitalization of $282.63 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 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 announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.19 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 3.88%. AbbVie’s payout ratio is 183.98%.

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.