Woodmont Investment Counsel LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Woodmont Investment Counsel LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,263 shares of the company’s stock after selling 200 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in AbbVie were worth $4,874,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Weaver Capital Management LLC increased its holdings in shares of AbbVie by 3.9% in the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock valued at $1,727,000 after purchasing an additional 310 shares during the last quarter. Aspire Private Capital LLC lifted its position in AbbVie by 9.2% during the first quarter. Aspire Private Capital LLC now owns 7,972 shares of the company’s stock worth $1,670,000 after acquiring an additional 670 shares during the last quarter. CCG Wealth Management LLC increased its stake in shares of AbbVie by 7.3% during the first quarter. CCG Wealth Management LLC now owns 1,856 shares of the company’s stock worth $389,000 after purchasing an additional 127 shares during the period. Stonegate Investment Group LLC lifted its holdings in AbbVie by 1.6% during the 1st quarter. Stonegate Investment Group LLC now owns 38,241 shares of the company’s stock worth $8,012,000 after purchasing an additional 588 shares during the last quarter. Finally, Mayport LLC increased its position in AbbVie by 8.9% during the 1st quarter. Mayport LLC now owns 7,134 shares of the company’s stock worth $1,495,000 after buying an additional 581 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of ABBV opened at $185.16 on Friday. The firm has a market cap of $327.06 billion, a PE ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The business’s 50 day moving average price is $185.19 and its two-hundred day moving average price is $187.63. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABBV shares. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley upped their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.29.

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.