AbbVie Inc. (NYSE:ABBV) Shares Sold by Callan Capital LLC

Callan Capital LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,238 shares of the company’s stock after selling 577 shares during the period. Callan Capital LLC’s holdings in AbbVie were worth $812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wagner Wealth Management LLC boosted its stake in shares of AbbVie by 4.9% during the 3rd quarter. Wagner Wealth Management LLC now owns 7,284 shares of the company’s stock worth $1,086,000 after purchasing an additional 337 shares during the last quarter. Boston Trust Walden Corp grew its stake in AbbVie by 9.7% in the 3rd quarter. Boston Trust Walden Corp now owns 26,668 shares of the company’s stock worth $3,975,000 after acquiring an additional 2,353 shares during the period. Riverwater Partners LLC grew its stake in AbbVie by 28.6% in the 3rd quarter. Riverwater Partners LLC now owns 2,149 shares of the company’s stock worth $320,000 after acquiring an additional 478 shares during the period. Strategic Blueprint LLC raised its holdings in AbbVie by 2.6% in the 3rd quarter. Strategic Blueprint LLC now owns 11,306 shares of the company’s stock valued at $1,685,000 after acquiring an additional 286 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in shares of AbbVie by 1.8% during the 3rd quarter. Caprock Group LLC now owns 16,427 shares of the company’s stock worth $2,449,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 4.6 %

NYSE:ABBV traded down $7.67 during trading hours on Friday, hitting $159.62. The stock had a trading volume of 10,709,214 shares, compared to its average volume of 5,657,401. The business has a 50 day simple moving average of $174.59 and a two-hundred day simple moving average of $160.74. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The company has a market cap of $282.63 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.11. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business earned $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Transactions at AbbVie

In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.43.

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.