Bogart Wealth LLC Has $9.27 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Bogart Wealth LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,811 shares of the company’s stock after selling 1,064 shares during the quarter. Bogart Wealth LLC’s holdings in AbbVie were worth $9,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie during the 4th quarter valued at about $44,000. Blue Bell Private Wealth Management LLC boosted 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 valued at $43,000 after purchasing an additional 81 shares during the last quarter. Horrell Capital Management Inc. bought a new position in shares of AbbVie during the 3rd quarter worth approximately $45,000. Bourgeon Capital Management LLC lifted its position in shares of 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 buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

ABBV traded up $0.48 during trading on Thursday, reaching $160.93. The stock had a trading volume of 525,264 shares, compared to its average volume of 5,604,107. The stock has a market cap of $284.18 billion, a PE ratio of 47.61, a PEG ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business has a 50-day moving average of $172.48 and a 200-day moving average of $161.62.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company 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 dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.85%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’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 completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’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 transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie 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.