AbbVie Inc. (NYSE:ABBV) Shares Sold by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT reduced its position in AbbVie Inc. (NYSE:ABBV) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,078 shares of the company’s stock after selling 465 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in AbbVie were worth $2,492,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC grew its stake in shares of 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 purchasing an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter worth $45,000. Core Wealth Advisors Inc. grew its stake 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 purchasing an additional 285 shares during the period. Bourgeon Capital Management LLC boosted its position in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $53,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Trading Down 4.6 %

ABBV traded down $7.67 on Friday, reaching $159.62. 10,721,740 shares of the company’s stock were exchanged, compared to its average volume of 5,004,945. The company’s 50 day moving average is $174.59 and its 200-day moving average is $160.74. The company has a market cap of $282.63 billion, a price-to-earnings ratio of 58.47, a PEG ratio of 2.13 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 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 posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Equities analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

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.