Burt Wealth Advisors Sells 99 Shares of AbbVie Inc. (NYSE:ABBV)

Burt Wealth Advisors reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,867 shares of the company’s stock after selling 99 shares during the quarter. Burt Wealth Advisors’ holdings in AbbVie were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in AbbVie in the 4th quarter valued at $4,459,385,000. GAMMA Investing LLC boosted its holdings in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Raymond James Financial Inc. bought a new stake in AbbVie in the 4th quarter valued at $1,190,951,000. FMR LLC boosted its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on ABBV shares. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.2%

Shares of AbbVie stock opened at $185.16 on Friday. The company has a market capitalization of $327.06 billion, a price-to-earnings ratio of 78.79, a PEG ratio of 1.23 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The firm’s 50-day moving average price is $185.19 and its two-hundred day moving average price is $187.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s payout ratio is 279.15%.

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.