AbbVie Inc. (NYSE:ABBV) Shares Sold by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. decreased its position in AbbVie Inc. (NYSE:ABBV) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,755 shares of the company’s stock after selling 156 shares during the quarter. Stockman Wealth Management Inc.’s holdings in AbbVie were worth $427,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Roble Belko & Company Inc raised its holdings in AbbVie by 45.8% during the fourth quarter. Roble Belko & Company Inc now owns 592 shares of the company’s stock worth $92,000 after purchasing an additional 186 shares in the last quarter. Larson Financial Group LLC raised its holdings in AbbVie by 12.1% during the fourth quarter. Larson Financial Group LLC now owns 2,835 shares of the company’s stock worth $439,000 after purchasing an additional 305 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in AbbVie by 16.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 186,405 shares of the company’s stock worth $28,887,000 after purchasing an additional 26,419 shares in the last quarter. PDS Planning Inc raised its holdings in AbbVie by 0.3% during the fourth quarter. PDS Planning Inc now owns 103,537 shares of the company’s stock worth $16,045,000 after purchasing an additional 342 shares in the last quarter. Finally, Aspire Private Capital LLC raised its holdings in AbbVie by 3.8% during the fourth quarter. Aspire Private Capital LLC now owns 5,107 shares of the company’s stock worth $792,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie 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 transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ABBV shares. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their target price 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 raised their target price 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. Barclays raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Performance

NYSE:ABBV traded up $1.53 during midday trading on Monday, reaching $167.94. The stock had a trading volume of 5,580,360 shares, compared to its average volume of 5,635,411. The firm has a fifty day simple moving average of $175.34 and a two-hundred day simple moving average of $160.42. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market cap of $297.36 billion, a P/E ratio of 61.52, a P/E/G ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts expect that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

About AbbVie

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.