Raab & Moskowitz Asset Management LLC Sells 323 Shares of AbbVie Inc. (NYSE:ABBV)

Raab & Moskowitz Asset Management LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,642 shares of the company’s stock after selling 323 shares during the quarter. AbbVie comprises approximately 1.3% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its 20th biggest position. Raab & Moskowitz Asset Management LLC’s holdings in AbbVie were worth $4,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. Horrell Capital Management Inc. acquired a new stake in AbbVie during the 3rd quarter valued at $45,000. Core Wealth Advisors Inc. lifted its holdings in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC lifted its holdings in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the last quarter. Finally, Naples Money Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets lifted their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial lifted 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. Finally, Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

AbbVie stock opened at $159.62 on Friday. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The business’s 50-day moving average price is $174.59 and its two-hundred day moving average price is $160.82. The stock has a market cap of $282.63 billion, a PE ratio of 47.37, a P/E/G ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. Insiders own 0.25% of the company’s stock.

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.