Gallacher Capital Management LLC Sells 209 Shares of AbbVie Inc. (NYSE:ABBV)

Gallacher Capital Management LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,359 shares of the company’s stock after selling 209 shares during the quarter. Gallacher Capital Management LLC’s holdings in AbbVie were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aspen Wealth Strategies LLC grew its stake in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc lifted its holdings in AbbVie by 2.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the period. Avion Wealth lifted its holdings in shares of AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the last quarter. White Pine Capital LLC lifted its holdings in shares of AbbVie by 1.2% during the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the last quarter. Finally, First Bank & Trust lifted its holdings in shares of AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV traded down $1.06 during trading hours on Monday, reaching $162.73. 5,733,240 shares of the stock traded hands, compared to its average volume of 5,659,781. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company’s 50-day moving average price is $173.13 and its two-hundred day moving average price is $161.39. The company has a market cap of $288.14 billion, a P/E ratio of 47.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company 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 company earned $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’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 completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. 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 in the last three months. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABBV. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Truist Financial lifted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three 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 stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $174.31.

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.