Fortis Capital Advisors LLC Sells 162 Shares of AbbVie Inc. (NYSE:ABBV)

Fortis Capital Advisors LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,450 shares of the company’s stock after selling 162 shares during the quarter. Fortis Capital Advisors LLC’s holdings in AbbVie were worth $1,659,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its stake in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Norges Bank purchased a new stake in AbbVie during the fourth quarter valued at $4,459,385,000. Finally, FMR LLC grew its stake in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.4 %

AbbVie stock opened at $174.90 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $309.39 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55. The business has a fifty day moving average of $200.16 and a two-hundred day moving average of $188.49. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABBV shares. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price objective on AbbVie from $239.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $210.71.

AbbVie 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.