AbbVie Inc. (NYSE:ABBV) is Heritage Wealth Management Inc.’s 9th Largest Position

Heritage Wealth Management Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,126 shares of the company’s stock after selling 152 shares during the period. AbbVie accounts for about 1.4% of Heritage Wealth Management Inc.’s holdings, making the stock its 9th largest holding. Heritage Wealth Management Inc.’s holdings in AbbVie were worth $4,287,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABBV. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter worth about $35,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,439 shares of company stock valued at $11,377,057 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Morgan Stanley lifted their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $209.07 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business’s 50 day moving average is $184.42 and its two-hundred day moving average is $186.95. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $209.60. The stock has a market capitalization of $369.09 billion, a price-to-earnings ratio of 87.11, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 EPS. Research analysts expect 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 Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

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.