Magnolia Capital Advisors LLC Has $568,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Magnolia Capital Advisors LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,444 shares of the company’s stock after selling 148 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in AbbVie were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABBV. Exeter Financial LLC increased its holdings in AbbVie by 2.9% in the third quarter. Exeter Financial LLC now owns 21,715 shares of the company’s stock worth $3,237,000 after purchasing an additional 617 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in AbbVie by 7.9% in the third quarter. Douglas Lane & Associates LLC now owns 13,396 shares of the company’s stock worth $1,997,000 after purchasing an additional 979 shares in the last quarter. Viking Fund Management LLC increased its holdings in AbbVie by 6.0% in the third quarter. Viking Fund Management LLC now owns 142,250 shares of the company’s stock worth $21,204,000 after purchasing an additional 8,060 shares in the last quarter. Trilogy Capital Inc. increased its holdings in AbbVie by 0.6% in the third quarter. Trilogy Capital Inc. now owns 19,862 shares of the company’s stock worth $2,961,000 after purchasing an additional 117 shares in the last quarter. Finally, Hilltop Wealth Advisors LLC bought a new stake in AbbVie in the third quarter worth approximately $205,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Truist Financial boosted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Performance

ABBV stock traded down $1.71 during midday trading on Wednesday, hitting $167.83. The company’s stock had a trading volume of 4,074,754 shares, compared to its average volume of 5,594,750. The stock’s 50-day moving average price is $175.26 and its 200 day moving average price is $160.57. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The stock has a market cap of $297.17 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping 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 business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.69%. AbbVie’s dividend payout ratio is presently 227.11%.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last 90 days. Insiders own 0.25% of the company’s stock.

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.