Wealthspire Advisors LLC Reduces Holdings in AbbVie Inc. (NYSE:ABBV)

Wealthspire Advisors LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,306 shares of the company’s stock after selling 177 shares during the quarter. Wealthspire Advisors LLC’s holdings in AbbVie were worth $8,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie in the fourth quarter valued at about $44,000. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 39.5% during 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. Horrell Capital Management Inc. purchased a new position in AbbVie during the 3rd quarter valued at about $45,000. Bourgeon Capital Management LLC grew its position in AbbVie by 240.0% in 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 in the last quarter. Finally, Naples Money Management LLC purchased a new stake in AbbVie during the fourth quarter worth about $53,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction on 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 in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.0 %

Shares of ABBV traded down $0.07 during mid-day trading on Thursday, reaching $160.38. The company’s stock had a trading volume of 3,570,052 shares, compared to its average volume of 5,639,635. The company’s 50 day moving average is $171.83 and its 200 day moving average is $161.61. The stock has a market cap of $283.21 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm posted $2.46 EPS. The company’s revenue was up .7% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. 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.