Burns J W & Co. Inc. NY Lowers Stake in AbbVie Inc. (NYSE:ABBV)

Burns J W & Co. Inc. NY decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,978 shares of the company’s stock after selling 319 shares during the period. Burns J W & Co. Inc. NY’s holdings in AbbVie were worth $4,956,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ABBV. VitalStone Financial LLC lifted its holdings in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after acquiring an additional 166 shares during the period. Hibernia Wealth Partners LLC purchased a new position in AbbVie during the third quarter worth approximately $36,000. PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $39,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV traded up $1.75 during trading hours on Friday, hitting $182.10. 5,418,687 shares of the stock were exchanged, compared to its average volume of 6,578,465. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a 50-day simple moving average of $174.89 and a 200-day simple moving average of $158.13. The stock has a market cap of $322.44 billion, a price-to-earnings ratio of 66.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 earnings per share. Analysts anticipate that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets increased 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. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Transactions at AbbVie

In other AbbVie 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 value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s 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 sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

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.