Colonial River Wealth Management LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

Colonial River Wealth Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,194 shares of the company’s stock after selling 2,100 shares during the quarter. Colonial River Wealth Management LLC’s holdings in AbbVie were worth $1,270,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. VitalStone Financial LLC raised its holdings in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after buying an additional 166 shares in the last quarter. Hibernia Wealth Partners LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $36,000. PCA Investment Advisory Services Inc. purchased a new position in AbbVie in the 2nd quarter worth approximately $38,000. True Wealth Design LLC purchased a new position in AbbVie in the 4th quarter worth approximately $39,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in AbbVie by 39.5% in 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. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’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 sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’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 sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, 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. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.0 %

Shares of NYSE ABBV traded down $0.04 during mid-day trading on Tuesday, hitting $180.72. 4,523,844 shares of the stock traded hands, compared to its average volume of 5,643,128. 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 Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market cap of $319.99 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 2.31 and a beta of 0.58. The stock has a fifty day moving average price of $175.54 and a 200-day moving average price of $158.67.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly 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 return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Dividend Announcement

The company 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 dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.43%. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Monday, December 11th. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.43.

View Our Latest Stock Analysis on ABBV

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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