Baker Tilly Wealth Management LLC Sells 413 Shares of AbbVie Inc. (NYSE:ABBV)

Baker Tilly Wealth Management LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,486 shares of the company’s stock after selling 413 shares during the period. Baker Tilly Wealth Management LLC’s holdings in AbbVie were worth $2,503,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ABBV. OLD Mission Capital LLC purchased a new position in AbbVie during the third quarter valued at approximately $242,000. Camden National Bank lifted its stake in shares of AbbVie by 2.3% during the fourth quarter. Camden National Bank now owns 10,924 shares of the company’s stock worth $1,171,000 after buying an additional 245 shares during the period. Morgan Stanley lifted its stake in shares of AbbVie by 1.1% during the second quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after buying an additional 214,425 shares during the period. Keudell Morrison Wealth Management lifted its stake in shares of AbbVie by 5.0% during the third quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock worth $3,313,000 after buying an additional 1,469 shares during the period. Finally, Center for Financial Planning Inc. lifted its stake in shares of AbbVie by 4.1% during the third quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock worth $1,295,000 after buying an additional 471 shares during the period. 65.62% of the stock is currently owned by institutional investors.

Shares of NYSE ABBV traded up $0.78 during mid-day trading on Thursday, reaching $156.96. The company had a trading volume of 390,353 shares, compared to its average volume of 7,898,127. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 4.16. The firm has a 50 day simple moving average of $156.76 and a two-hundred day simple moving average of $136.67. The stock has a market cap of $277.24 billion, a P/E ratio of 24.14, a PEG ratio of 4.42 and a beta of 0.81. AbbVie Inc. has a 52-week low of $105.56 and a 52-week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its earnings results on Wednesday, February 2nd. The company reported $3.31 EPS for the quarter, beating the Zacks’ consensus estimate of $3.29 by $0.02. The firm had revenue of $14.89 billion for the quarter, compared to the consensus estimate of $14.96 billion. AbbVie had a net margin of 20.54% and a return on equity of 164.05%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $2.92 EPS. On average, equities analysts expect that AbbVie Inc. will post 14.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 3.59%. The ex-dividend date is Wednesday, April 13th. AbbVie’s payout ratio is currently 87.44%.

In other news, SVP Carrie C. Strom sold 2,396 shares of the firm’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $141.17, for a total value of $338,243.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henry O. Gosebruch sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.26, for a total transaction of $2,223,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,819 shares of company stock worth $16,155,094 over the last three months. 0.08% of the stock is currently owned by insiders.

ABBV has been the subject of several research reports. Barclays lifted their price objective on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Mizuho boosted their target price on shares of AbbVie from $154.00 to $166.00 and gave the company a “buy” rating in a research report on Friday, February 4th. The Goldman Sachs Group boosted their target price on shares of AbbVie from $122.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. Redburn Partners assumed coverage on shares of AbbVie in a research report on Thursday, January 13th. They issued a “buy” rating for the company. Finally, Citigroup boosted their target price on shares of AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $157.73.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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