Weatherly Asset Management L. P. Sells 93 Shares of AbbVie Inc. (NYSE:ABBV)

Weatherly Asset Management L. P. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,425 shares of the company’s stock after selling 93 shares during the period. Weatherly Asset Management L. P.’s holdings in AbbVie were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC grew its holdings in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the third quarter worth $45,000. Core Wealth Advisors Inc. lifted its position in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC lifted its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares in the last quarter. Finally, Naples Money Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $53,000. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. 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 given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Trading Up 1.0 %

Shares of NYSE:ABBV traded up $1.65 on Tuesday, reaching $169.54. 4,084,061 shares of the company traded hands, compared to its average volume of 5,615,517. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The business’s 50-day simple moving average is $175.34 and its 200 day simple moving average is $160.42. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $300.20 billion, a P/E ratio of 62.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the business earned $3.60 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.66%. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. 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 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.