AbbVie Inc. (NYSE:ABBV) Shares Sold by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 40.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,970 shares of the company’s stock after selling 1,343 shares during the quarter. Strategic Financial Concepts LLC’s holdings in AbbVie were worth $305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goepper Burkhardt LLC boosted its position in shares of AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after buying an additional 67 shares during the period. Syntax Advisors LLC lifted its position in AbbVie by 4.2% in the second quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. First Bank & Trust lifted its position in AbbVie by 0.4% in the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares during the period. Clearwater Capital Advisors LLC lifted its position in AbbVie by 3.9% in the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares during the period. Finally, Founders Capital Management LLC lifted its position in AbbVie by 0.3% in the third quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after purchasing an additional 70 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.0 %

NYSE:ABBV traded up $1.75 during trading hours on Friday, reaching $182.10. The company’s stock had a trading volume of 5,418,687 shares, compared to its average volume of 6,578,465. The company has a market cap of $322.44 billion, a price-to-earnings ratio of 66.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business’s 50-day moving average is $174.89 and its 200-day moving average is $158.13. 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 released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 11.15 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 given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the company from $167.00 to $156.00 in a research report on Monday, December 18th. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Monday, December 11th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Four 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.43.

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.