AbbVie Inc. (NYSE:ABBV) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the fourth quarter, Holdings Channel reports. The fund owned 52,561 shares of the company’s stock after selling 2,040 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in AbbVie were worth $8,145,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Aspen Wealth Strategies LLC grew its holdings in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares during the period. Avion Wealth boosted its stake in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the period. White Pine Capital LLC boosted its stake in AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after purchasing an additional 65 shares during the period. Finally, First Bank & Trust boosted its stake in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ABBV shares. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Price Performance

Shares of ABBV traded down $7.67 during mid-day trading on Friday, reaching $159.62. The company had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. 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 current ratio of 0.87 and a quick ratio of 0.76. The company’s 50-day moving average is $174.59 and its 200-day moving average is $160.74. The company has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued 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. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the firm posted $2.46 EPS. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

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 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 yield of 3.88%. AbbVie’s dividend payout ratio is 227.11%.

Insider Activity at AbbVie

In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly 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 at the SEC website. In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly 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 at the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction 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 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 in the last three months. Corporate insiders own 0.25% of the company’s stock.

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.