Bordeaux Wealth Advisors LLC Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Bordeaux Wealth Advisors LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,671 shares of the company’s stock after selling 543 shares during the quarter. Bordeaux Wealth Advisors LLC’s holdings in AbbVie were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new stake in AbbVie in the fourth quarter valued at about $44,000. Blue Bell Private Wealth Management LLC raised its stake in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Horrell Capital Management Inc. purchased a new position in shares of AbbVie in the third quarter worth about $45,000. Bourgeon Capital Management LLC raised its stake in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the last quarter. Finally, Naples Money Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $53,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

ABBV traded up $3.00 during trading on Friday, hitting $163.81. The company’s stock had a trading volume of 5,849,883 shares, compared to its average volume of 5,662,264. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The business’s fifty day simple moving average is $173.42 and its 200 day simple moving average is $161.10. The firm has a market capitalization of $290.05 billion, a price-to-earnings ratio of 48.60, a P/E/G ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

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.