Greatmark Investment Partners Inc. Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Greatmark Investment Partners Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,930 shares of the company’s stock after selling 1,223 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in AbbVie were worth $6,343,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on ABBV shares. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets lowered their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Performance

Shares of AbbVie stock traded up $0.15 on Monday, hitting $159.77. The stock had a trading volume of 3,491,770 shares, compared to its average volume of 5,628,135. The company’s 50 day moving average price is $174.59 and its 200 day moving average price is $160.90. 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 stock has a market cap of $282.90 billion, a price-to-earnings ratio of 47.49, a P/E/G ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. On average, research analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

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

Insider Buying and Selling at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on 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 approximately $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on 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 approximately $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $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 ninety 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.