Teamwork Financial Advisors LLC Sells 577 Shares of AbbVie Inc. (NYSE:ABBV)

Teamwork Financial Advisors LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,651 shares of the company’s stock after selling 577 shares during the period. Teamwork Financial Advisors LLC’s holdings in AbbVie were worth $1,186,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ABBV. Zullo Investment Group Inc. raised its holdings in AbbVie by 1.8% in the fourth quarter. Zullo Investment Group Inc. now owns 5,155 shares of the company’s stock worth $799,000 after buying an additional 91 shares during the last quarter. Compton Wealth Advisory Group LLC raised its holdings in shares of AbbVie by 11.5% during the fourth quarter. Compton Wealth Advisory Group LLC now owns 11,156 shares of the company’s stock valued at $1,729,000 after purchasing an additional 1,155 shares during the last quarter. Fulcrum Equity Management raised its holdings in shares of AbbVie by 2.6% during the fourth quarter. Fulcrum Equity Management now owns 4,912 shares of the company’s stock valued at $761,000 after purchasing an additional 124 shares during the last quarter. Symphony Financial Ltd. Co. raised its holdings in shares of AbbVie by 125.6% during the fourth quarter. Symphony Financial Ltd. Co. now owns 13,133 shares of the company’s stock valued at $2,121,000 after purchasing an additional 7,311 shares during the last quarter. Finally, Chilton Capital Management LLC raised its holdings in shares of AbbVie by 0.5% during the fourth quarter. Chilton Capital Management LLC now owns 14,676 shares of the company’s stock valued at $2,274,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded up $1.75 during midday trading on Friday, hitting $182.10. The stock had a trading volume of 5,418,687 shares, compared to its average volume of 6,578,465. The firm’s fifty day moving average is $174.89 and its two-hundred day moving average is $158.13. The company has a market capitalization of $322.44 billion, a PE ratio of 66.70, a P/E/G ratio of 2.29 and a beta of 0.58. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping 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%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 EPS. On average, research analysts forecast that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Analysts Set New Price Targets

Several analysts recently commented on ABBV shares. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.