NBW Capital LLC Sells 246 Shares of AbbVie Inc. (NYSE:ABBV)

NBW Capital LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,038 shares of the company’s stock after selling 246 shares during the quarter. NBW Capital LLC’s holdings in AbbVie were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Altfest L J & Co. Inc. increased its stake in shares of AbbVie by 0.9% during the third quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the period. Torray Investment Partners LLC increased its stake in shares of AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock worth $3,159,000 after purchasing an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. increased its stake in shares of AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after purchasing an additional 4,633 shares during the period. Amplius Wealth Advisors LLC grew its position in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after buying an additional 400 shares in the last quarter. Finally, Synovus Financial Corp grew its position in AbbVie by 5.4% during the third quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock worth $17,709,000 after buying an additional 6,139 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.90 during mid-day trading on Thursday, hitting $165.15. 2,524,908 shares of the stock traded hands, compared to its average volume of 5,610,471. 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 twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap of $292.42 billion, a PE ratio of 60.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The firm has a 50 day simple moving average of $175.79 and a two-hundred day simple moving average of $159.94.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $3.60 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 11.17 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Barclays increased their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three 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. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.