Quantum Private Wealth LLC Reduces Holdings in AbbVie Inc. (NYSE:ABBV)

Quantum Private Wealth LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,252 shares of the company’s stock after selling 300 shares during the quarter. Quantum Private Wealth LLC’s holdings in AbbVie were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. TRUE Private Wealth Advisors raised its holdings in shares of AbbVie by 6.8% in the fourth quarter. TRUE Private Wealth Advisors now owns 37,428 shares of the company’s stock worth $5,800,000 after buying an additional 2,399 shares during the last quarter. Scissortail Wealth Management LLC lifted its position in AbbVie by 1,764.3% during the 4th quarter. Scissortail Wealth Management LLC now owns 25,932 shares of the company’s stock worth $4,251,000 after acquiring an additional 24,541 shares during the period. Tyche Wealth Partners LLC acquired a new stake in AbbVie during the 4th quarter worth about $2,192,000. Aspen Wealth Strategies LLC grew its stake in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the last quarter. Finally, Arbor Trust Wealth Advisors LLC increased its holdings in shares of AbbVie by 0.5% in the fourth quarter. Arbor Trust Wealth Advisors LLC now owns 46,553 shares of the company’s stock valued at $7,214,000 after purchasing an additional 225 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, 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 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 $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total value of $2,441,295.03. Following the transaction, the executive vice president now owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

AbbVie stock traded up $0.87 during trading on Wednesday, reaching $162.54. The company had a trading volume of 4,881,516 shares, compared to its average volume of 5,260,014. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm’s 50-day simple moving average is $176.01 and its 200 day simple moving average is $159.91. The firm has a market capitalization of $287.80 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.12 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ABBV shares. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. 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. Raymond James boosted their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.