Vestmark Advisory Solutions Inc. Has $3.01 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Vestmark Advisory Solutions Inc. lowered its position in AbbVie Inc. (NYSE:ABBV) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 19,446 shares of the company’s stock after selling 1,459 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in AbbVie were worth $3,014,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $44,000. Horrell Capital Management Inc. bought a new position in shares of AbbVie during the 3rd quarter worth approximately $45,000. Core Wealth Advisors Inc. grew its position in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares during the period. Finally, Bourgeon Capital Management LLC lifted its position in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABBV shares. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Three investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.31.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last ninety days. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Up 1.9 %

Shares of ABBV traded up $2.98 during trading hours on Friday, reaching $163.79. 5,850,102 shares of the stock traded hands, compared to its average volume of 5,457,836. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market cap of $290.01 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 2.07 and a beta of 0.61. The stock has a fifty day simple moving average of $173.13 and a 200 day simple moving average of $161.22. 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 (NYSE:ABBV) last posted 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 net margin of 11.02% and a return on equity of 165.18%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the business posted $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.29 EPS for the current 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 paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.