AbbVie Inc. (NYSE:ABBV) Shares Sold by NBW Capital LLC

NBW Capital LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 38,915 shares of the company’s stock after selling 603 shares during the quarter. NBW Capital LLC’s holdings in AbbVie were worth $6,915,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bedel Financial Consulting Inc. lifted its position in shares of AbbVie by 1.4% in the fourth quarter. Bedel Financial Consulting Inc. now owns 12,477 shares of the company’s stock valued at $2,392,000 after acquiring an additional 175 shares in the last quarter. WMG Financial Advisors LLC lifted its position in shares of AbbVie by 4.5% in the fourth quarter. WMG Financial Advisors LLC now owns 2,137 shares of the company’s stock valued at $380,000 after acquiring an additional 93 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of AbbVie by 8.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 270,178 shares of the company’s stock valued at $48,011,000 after acquiring an additional 21,250 shares in the last quarter. Unified Investment Management purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $459,000. Finally, Wernau Asset Management Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $264,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Bank of America reiterated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Up 1.1 %

Shares of NYSE ABBV opened at $211.27 on Tuesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $212.30. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a fifty day simple moving average of $185.08 and a 200-day simple moving average of $187.04. The stock has a market capitalization of $372.97 billion, a PE ratio of 88.03, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the firm earned $2.79 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. AbbVie’s payout ratio is presently 273.33%.

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.