AbbVie Inc. (NYSE:ABBV) Shares Sold by Howard Wealth Management LLC

Howard Wealth Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,799 shares of the company’s stock after selling 71 shares during the quarter. Howard Wealth Management LLC’s holdings in AbbVie were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Scarborough Advisors LLC boosted its position in shares of AbbVie by 41.8% in the 4th quarter. Scarborough Advisors LLC now owns 1,570 shares of the company’s stock worth $279,000 after purchasing an additional 463 shares in the last quarter. BXM Wealth LLC purchased a new position in AbbVie in the 4th quarter worth $609,000. Spinnaker Trust raised its stake in AbbVie by 8.2% in the 4th quarter. Spinnaker Trust now owns 16,784 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,275 shares during the last quarter. WASHINGTON TRUST Co raised its stake in AbbVie by 0.4% in the 4th quarter. WASHINGTON TRUST Co now owns 30,143 shares of the company’s stock worth $5,356,000 after acquiring an additional 127 shares during the last quarter. Finally, PUREfi Wealth LLC purchased a new position in AbbVie in the 4th quarter worth $525,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Raymond James reiterated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $193.00 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a 50-day moving average price of $178.59 and a 200 day moving average price of $185.96. The firm has a market cap of $341.05 billion, a PE ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the firm earned $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.