Norden Group LLC Sells 1,968 Shares of AbbVie Inc. (NYSE:ABBV)

Norden Group LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,477 shares of the company’s stock after selling 1,968 shares during the quarter. Norden Group LLC’s holdings in AbbVie were worth $1,004,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABBV. Penobscot Investment Management Company Inc. raised its stake in AbbVie by 1.0% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 74,718 shares of the company’s stock worth $11,579,000 after buying an additional 775 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of AbbVie by 0.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 19,611 shares of the company’s stock valued at $3,039,000 after acquiring an additional 100 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of AbbVie by 6.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 116,306 shares of the company’s stock worth $18,024,000 after purchasing an additional 7,289 shares during the period. Ledyard National Bank lifted its holdings in shares of AbbVie by 16.8% in the 4th quarter. Ledyard National Bank now owns 19,886 shares of the company’s stock worth $3,082,000 after purchasing an additional 2,859 shares in the last quarter. Finally, Steele Capital Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at $2,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays dropped their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

AbbVie stock traded up $0.92 during midday trading on Tuesday, reaching $162.44. 2,483,321 shares of the stock were exchanged, compared to its average volume of 5,625,545. The company’s fifty day moving average is $174.27 and its 200-day moving average is $161.00. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The firm has a market cap of $287.62 billion, a PE ratio of 48.08, a PEG ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.