AbbVie Inc. (NYSE:ABBV) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,045 shares of the company’s stock after selling 58 shares during the quarter. 44 Wealth Management LLC’s holdings in AbbVie were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ABBV. Redmond Asset Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $1,623,000. Oxbow Advisors LLC boosted its stake in shares of AbbVie by 1.3% during the fourth quarter. Oxbow Advisors LLC now owns 7,120 shares of the company’s stock valued at $1,265,000 after acquiring an additional 88 shares during the last quarter. Element Wealth LLC boosted its stake in shares of AbbVie by 1.4% during the fourth quarter. Element Wealth LLC now owns 5,405 shares of the company’s stock valued at $960,000 after acquiring an additional 77 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in shares of AbbVie by 3.1% during the fourth quarter. Prentice Wealth Management LLC now owns 6,267 shares of the company’s stock valued at $1,114,000 after acquiring an additional 190 shares during the last quarter. Finally, Bell Bank boosted its stake in shares of AbbVie by 9.5% during the fourth quarter. Bell Bank now owns 73,150 shares of the company’s stock valued at $12,999,000 after acquiring an additional 6,333 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $202.03 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a market capitalization of $356.64 billion, a PE ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s 50 day moving average is $180.68 and its two-hundred day moving average is $186.29.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the business posted $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ABBV shares. Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Company 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.