Private Wealth Partners LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Private Wealth Partners LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 154,947 shares of the company’s stock after selling 2,440 shares during the quarter. AbbVie comprises 2.0% of Private Wealth Partners LLC’s portfolio, making the stock its 19th biggest position. Private Wealth Partners LLC’s holdings in AbbVie were worth $24,012,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABBV. Wagner Wealth Management LLC increased its holdings in shares of AbbVie by 4.9% during the 3rd quarter. Wagner Wealth Management LLC now owns 7,284 shares of the company’s stock valued at $1,086,000 after purchasing an additional 337 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of AbbVie by 9.7% during the 3rd quarter. Boston Trust Walden Corp now owns 26,668 shares of the company’s stock valued at $3,975,000 after purchasing an additional 2,353 shares in the last quarter. Riverwater Partners LLC increased its holdings in shares of AbbVie by 28.6% during the 3rd quarter. Riverwater Partners LLC now owns 2,149 shares of the company’s stock valued at $320,000 after purchasing an additional 478 shares in the last quarter. Strategic Blueprint LLC increased its holdings in shares of AbbVie by 2.6% during the 3rd quarter. Strategic Blueprint LLC now owns 11,306 shares of the company’s stock valued at $1,685,000 after purchasing an additional 286 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of AbbVie by 1.8% during the 3rd quarter. Caprock Group LLC now owns 16,427 shares of the company’s stock valued at $2,449,000 after purchasing an additional 287 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Barclays boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. BMO Capital Markets boosted their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Perry C. Siatis sold 13,753 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now owns 28,173 shares in the company, valued at $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Trading Down 4.6 %

Shares of ABBV stock traded down $7.67 on Friday, hitting $159.62. 10,721,740 shares of the stock traded hands, compared to its average volume of 5,004,945. The firm’s 50-day moving average price is $174.59 and its two-hundred day moving average price is $160.82. 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 stock has a market capitalization of $282.63 billion, a PE ratio of 47.37, a PEG ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s payout ratio is currently 183.98%.

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.