Masso Torrence Wealth Management Inc. Sells 1,860 Shares of AbbVie Inc. (NYSE:ABBV)

Masso Torrence Wealth Management Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,863 shares of the company’s stock after selling 1,860 shares during the quarter. AbbVie makes up about 1.3% of Masso Torrence Wealth Management Inc.’s investment portfolio, making the stock its 21st largest holding. Masso Torrence Wealth Management Inc.’s holdings in AbbVie were worth $1,838,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC grew its position in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the third quarter valued at approximately $45,000. Core Wealth Advisors Inc. increased its holdings in AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after acquiring an additional 285 shares during the last quarter. Bourgeon Capital Management LLC lifted its stake in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $53,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.7 %

ABBV stock traded up $1.23 during midday trading on Tuesday, reaching $169.12. The company’s stock had a trading volume of 2,611,674 shares, compared to its average volume of 5,594,780. The firm has a market capitalization of $299.45 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The stock has a fifty day simple moving average of $175.34 and a two-hundred day simple moving average of $160.42.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 227.11%.

Wall Street Analyst Weigh In

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

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was 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 owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction dated 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 sale, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last quarter. 0.25% of the stock is owned by corporate insiders.

AbbVie Company 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.