Tilt Investment Management Holdings PBC Cuts Holdings in AbbVie Inc. (NYSE:ABBV)

Tilt Investment Management Holdings PBC reduced its position in AbbVie Inc. (NYSE:ABBV) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,210 shares of the company’s stock after selling 2,185 shares during the quarter. AbbVie comprises about 1.2% of Tilt Investment Management Holdings PBC’s investment portfolio, making the stock its 15th biggest position. Tilt Investment Management Holdings PBC’s holdings in AbbVie were worth $1,117,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cambridge Trust Co. grew its stake in shares of AbbVie by 0.4% during the fourth quarter. Cambridge Trust Co. now owns 27,819 shares of the company’s stock valued at $4,311,000 after acquiring an additional 119 shares in the last quarter. Twin Capital Management Inc. grew its stake in shares of AbbVie by 3.9% during the fourth quarter. Twin Capital Management Inc. now owns 38,181 shares of the company’s stock valued at $5,917,000 after acquiring an additional 1,417 shares in the last quarter. CapWealth Advisors LLC grew its stake in AbbVie by 11.2% in the fourth quarter. CapWealth Advisors LLC now owns 2,827 shares of the company’s stock worth $438,000 after purchasing an additional 284 shares in the last quarter. Federated Hermes Inc. grew its stake in AbbVie by 23.6% in the fourth quarter. Federated Hermes Inc. now owns 2,292,653 shares of the company’s stock worth $355,292,000 after purchasing an additional 437,672 shares in the last quarter. Finally, Wright Investors Service Inc. grew its stake in AbbVie by 16.2% in the fourth quarter. Wright Investors Service Inc. now owns 46,272 shares of the company’s stock worth $7,171,000 after purchasing an additional 6,438 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Barclays lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets lifted their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Up 0.4 %

Shares of NYSE ABBV traded up $0.70 during mid-day trading on Thursday, reaching $164.95. The company had a trading volume of 2,619,343 shares, compared to its average volume of 5,611,777. The stock has a market capitalization of $292.07 billion, a PE ratio of 60.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock’s 50 day moving average is $175.79 and its 200-day moving average is $159.94. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the company posted $3.60 earnings per share. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.