Register Financial Advisors LLC Sells 175 Shares of AbbVie Inc. (NYSE:ABBV)

Register Financial Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 1.4% in the first quarter, HoldingsChannel.com reports. The firm owned 12,333 shares of the company’s stock after selling 175 shares during the period. AbbVie accounts for approximately 1.3% of Register Financial Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Register Financial Advisors LLC’s holdings in AbbVie were worth $2,584,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie during the fourth quarter valued at about $4,459,385,000. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Wells Fargo & Company increased their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Trading Down 0.2%

Shares of NYSE:ABBV opened at $185.16 on Friday. The business’s 50 day moving average price is $185.19 and its 200-day moving average price is $187.63. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a market capitalization of $327.06 billion, a price-to-earnings ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.54%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

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.