AbbVie Inc. (NYSE:ABBV) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,347 shares of the company’s stock after selling 75 shares during the period. Creative Financial Designs Inc. ADV’s holdings in AbbVie were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. GLOBALT Investments LLC GA lifted its position in shares of AbbVie by 20.8% during the fourth quarter. GLOBALT Investments LLC GA now owns 23,138 shares of the company’s stock worth $4,112,000 after purchasing an additional 3,982 shares in the last quarter. RS Crum Inc. raised its holdings in AbbVie by 4.6% in the fourth quarter. RS Crum Inc. now owns 2,280 shares of the company’s stock valued at $405,000 after acquiring an additional 100 shares in the last quarter. Signature Wealth Management Group raised its holdings in AbbVie by 2.0% in the fourth quarter. Signature Wealth Management Group now owns 25,452 shares of the company’s stock valued at $4,523,000 after acquiring an additional 505 shares in the last quarter. GWN Securities Inc. acquired a new stake in AbbVie in the fourth quarter valued at $2,402,000. Finally, Van Hulzen Asset Management LLC raised its holdings in AbbVie by 1.8% in the fourth quarter. Van Hulzen Asset Management LLC now owns 169,374 shares of the company’s stock valued at $30,098,000 after acquiring an additional 2,974 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV stock opened at $213.80 on Wednesday. The company has a market capitalization of $377.43 billion, a P/E ratio of 89.08, a PEG ratio of 1.62 and a beta of 0.61. The company has a 50-day simple moving average of $192.47 and a 200 day simple moving average of $188.31. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. BMO Capital Markets upped their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.