1900 Wealth Management LLC Has $889,000 Holdings in AbbVie Inc. (NYSE:ABBV)

1900 Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,737 shares of the company’s stock after selling 510 shares during the period. 1900 Wealth Management LLC’s holdings in AbbVie were worth $889,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Legacy Capital Wealth Partners LLC acquired a new position in AbbVie in the 3rd quarter worth about $513,000. Kingdom Financial Group LLC. increased its holdings in shares of AbbVie by 31.8% during the 3rd quarter. Kingdom Financial Group LLC. now owns 2,357 shares of the company’s stock valued at $351,000 after acquiring an additional 569 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of AbbVie by 28.7% during the 3rd quarter. Artemis Investment Management LLP now owns 388,095 shares of the company’s stock valued at $57,823,000 after acquiring an additional 86,638 shares during the last quarter. Cassia Capital Partners LLC increased its holdings in shares of AbbVie by 2.1% during the 3rd quarter. Cassia Capital Partners LLC now owns 3,546 shares of the company’s stock valued at $529,000 after acquiring an additional 74 shares during the last quarter. Finally, Rothschild Investment LLC IL increased its holdings in shares of AbbVie by 1.4% during the 3rd quarter. Rothschild Investment LLC IL now owns 127,653 shares of the company’s stock valued at $19,028,000 after acquiring an additional 1,740 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of AbbVie stock traded up $1.80 during midday trading on Tuesday, hitting $169.69. 1,100,346 shares of the company were exchanged, compared to its average volume of 5,575,692. The firm has a 50 day simple moving average of $175.34 and a 200-day simple moving average of $160.42. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The firm has a market cap of $300.46 billion, a P/E ratio of 62.32, a PEG ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm posted $3.60 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced 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 is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.65%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABBV shares. Barclays increased 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. Guggenheim increased 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. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Activity

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

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.