AbbVie Inc. (NYSE:ABBV) Shares Sold by 1900 Wealth Management LLC

1900 Wealth Management LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,737 shares of the company’s stock after selling 510 shares during the quarter. 1900 Wealth Management LLC’s holdings in AbbVie were worth $889,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Aspire Private Capital LLC raised its stake in shares of AbbVie by 3.8% during the 4th quarter. Aspire Private Capital LLC now owns 5,107 shares of the company’s stock worth $792,000 after buying an additional 186 shares during the period. Gimbal Financial acquired a new position in shares of AbbVie during the 4th quarter worth approximately $453,000. Foster & Motley Inc. raised its stake in shares of AbbVie by 1.8% during the 4th quarter. Foster & Motley Inc. now owns 58,749 shares of the company’s stock worth $9,104,000 after buying an additional 1,067 shares during the period. RWA Wealth Partners LLC raised its stake in shares of AbbVie by 277.4% during the 4th quarter. RWA Wealth Partners LLC now owns 319,914 shares of the company’s stock worth $49,577,000 after buying an additional 235,137 shares during the period. Finally, Sage Mountain Advisors LLC raised its stake in AbbVie by 9.1% in the 4th quarter. Sage Mountain Advisors LLC now owns 8,833 shares of the company’s stock valued at $1,369,000 after purchasing an additional 734 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABBV shares. BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial upped 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. Finally, Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Up 1.1 %

Shares of NYSE ABBV traded up $1.80 during mid-day trading on Tuesday, reaching $169.69. The company had a trading volume of 1,100,346 shares, compared to its average volume of 5,575,692. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The stock has a market cap of $300.46 billion, a P/E ratio of 62.32, a PEG ratio of 2.14 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm has a 50 day simple moving average of $175.34 and a two-hundred day simple moving average of $160.42.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 company had revenue of $14.30 billion for 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%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.60 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.65%. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. 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 ninety days. Insiders own 0.25% of the company’s stock.

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.