Long Road Investment Counsel LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Long Road Investment Counsel LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,075 shares of the company’s stock after selling 200 shares during the period. Long Road Investment Counsel LLC’s holdings in AbbVie were worth $766,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new stake in AbbVie during the fourth quarter worth about $29,000. Alpha DNA Investment Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $33,000. McClarren Financial Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth about $38,000. JJJ Advisors Inc. grew its position in AbbVie by 260.8% during the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock worth $39,000 after buying an additional 266 shares in the last quarter. Finally, Core Wealth Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

ABBV stock traded up $0.14 during trading on Friday, hitting $116.74. The company had a trading volume of 55,041 shares, compared to its average volume of 7,185,540. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The firm has a 50-day moving average price of $109.71 and a 200-day moving average price of $105.37. AbbVie Inc. has a 12 month low of $79.11 and a 12 month high of $117.20. The stock has a market cap of $206.19 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, April 29th. The company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.12. The firm had revenue of $13.01 billion during the quarter, compared to analysts’ expectations of $12.84 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. AbbVie’s revenue was up 50.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. Equities analysts expect that AbbVie Inc. will post 10.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Thursday, April 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, April 14th. AbbVie’s payout ratio is 58.17%.

In related news, SVP Elaine K. Sorg sold 8,440 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.61, for a total value of $916,668.40. Following the completion of the sale, the senior vice president now owns 26,035 shares in the company, valued at approximately $2,827,661.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 19,514 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the completion of the sale, the executive vice president now owns 19,514 shares of the company’s stock, valued at approximately $2,119,025.26. The disclosure for this sale can be found here. Insiders have sold a total of 202,251 shares of company stock valued at $21,981,948 in the last quarter. Corporate insiders own 0.09% of the company’s stock.

A number of research firms have weighed in on ABBV. Royal Bank of Canada began coverage on AbbVie in a report on Wednesday, April 7th. They set a $135.00 price objective on the stock. BMO Capital Markets lifted their price objective on AbbVie from $127.00 to $129.00 and gave the company an “outperform” rating in a report on Monday. Piper Sandler lifted their price objective on AbbVie from $120.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 30th. Morgan Stanley decreased their price objective on AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, January 28th. Finally, SVB Leerink lifted their price objective on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a report on Tuesday, March 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $116.94.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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