Investment House LLC Has $8.49 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Investment House LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 54,803 shares of the company’s stock after selling 913 shares during the period. Investment House LLC’s holdings in AbbVie were worth $8,493,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KRS Capital Management LLC lifted its position in shares of AbbVie by 2.9% in the 3rd quarter. KRS Capital Management LLC now owns 9,954 shares of the company’s stock worth $1,484,000 after acquiring an additional 284 shares during the period. TFG Advisers LLC lifted its position in shares of AbbVie by 3.7% in the 3rd quarter. TFG Advisers LLC now owns 20,068 shares of the company’s stock worth $2,991,000 after acquiring an additional 707 shares during the period. Zullo Investment Group Inc. lifted its position in shares of AbbVie by 6.0% in the 3rd quarter. Zullo Investment Group Inc. now owns 5,064 shares of the company’s stock worth $755,000 after acquiring an additional 285 shares during the period. Walkner Condon Financial Advisors LLC lifted its position in shares of AbbVie by 5.1% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,254 shares of the company’s stock worth $336,000 after acquiring an additional 109 shares during the period. Finally, Accel Wealth Management lifted its position in shares of AbbVie by 9.6% in the 3rd quarter. Accel Wealth Management now owns 4,517 shares of the company’s stock worth $673,000 after acquiring an additional 397 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was 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 directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.4 %

Shares of AbbVie stock traded up $0.63 during trading on Monday, reaching $160.25. 3,038,973 shares of the company were exchanged, compared to its average volume of 5,625,113. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The business has a 50-day moving average price of $174.59 and a 200-day moving average price of $160.90. The firm has a market capitalization of $283.75 billion, a price-to-earnings ratio of 47.49, a P/E/G ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.87%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim raised 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. Finally, BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $174.31.

About AbbVie

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.