Tandem Investment Advisors Inc. Sells 250,744 Shares of AbbVie Inc. (NYSE:ABBV)

Tandem Investment Advisors Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 52.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 227,063 shares of the company’s stock after selling 250,744 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in AbbVie were worth $35,188,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in AbbVie by 7.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 168,387 shares of the company’s stock worth $26,095,000 after buying an additional 11,775 shares in the last quarter. Oakworth Capital Inc. grew its stake in AbbVie by 0.7% during the fourth quarter. Oakworth Capital Inc. now owns 13,222 shares of the company’s stock worth $2,049,000 after buying an additional 90 shares in the last quarter. Telos Capital Management Inc. grew its stake in AbbVie by 0.9% during the fourth quarter. Telos Capital Management Inc. now owns 51,235 shares of the company’s stock worth $7,940,000 after buying an additional 437 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in AbbVie by 222.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,104 shares of the company’s stock worth $1,719,000 after buying an additional 7,661 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in AbbVie during the fourth quarter worth about $57,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.0 %

AbbVie stock traded up $1.70 during mid-day trading on Wednesday, hitting $164.24. 4,792,165 shares of the stock were exchanged, compared to its average volume of 5,653,147. 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 12 month low of $130.96 and a 12 month high of $182.89. The firm’s fifty day simple moving average is $176.01 and its two-hundred day simple moving average is $159.91. The stock has a market capitalization of $290.81 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 EPS. Analysts forecast that AbbVie Inc. will post 11.12 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.77%. AbbVie’s dividend payout ratio is currently 227.11%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets raised their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.