Notis McConarty Edward Has $2.83 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Notis McConarty Edward lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,895 shares of the company’s stock after selling 1,500 shares during the quarter. AbbVie accounts for approximately 1.4% of Notis McConarty Edward’s investment portfolio, making the stock its 26th biggest holding. Notis McConarty Edward’s holdings in AbbVie were worth $2,825,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Groupama Asset Managment boosted its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $29,000. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie during the fourth quarter worth $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Piper Sandler boosted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Bank of America raised their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Performance

ABBV opened at $186.58 on Friday. The firm has a market cap of $330.06 billion, a P/E ratio of 77.74, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business’s fifty day moving average is $200.61 and its 200-day moving average is $189.24. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the business earned $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

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.