Avior Wealth Management LLC Sells 985 Shares of AbbVie Inc. (NYSE:ABBV)

Avior Wealth Management LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 45,540 shares of the company’s stock after selling 985 shares during the period. Avior Wealth Management LLC’s holdings in AbbVie were worth $7,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hibernia Wealth Partners LLC acquired a new position in AbbVie in the 3rd quarter worth $36,000. True Wealth Design LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $39,000. KB Financial Partners LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $45,000. PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth about $38,000. Finally, Blue Bell Private Wealth Management LLC boosted its stake in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.5 %

ABBV traded up $0.87 during midday trading on Tuesday, hitting $162.54. The company had a trading volume of 4,881,176 shares, compared to its average volume of 5,663,454. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $287.80 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 2.07 and a beta of 0.58. The stock’s 50 day moving average price is $176.23 and its 200 day moving average price is $159.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the company earned $3.60 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 11.11 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABBV. Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. BMO Capital Markets increased their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the stock from $167.00 to $156.00 in a report on Monday, December 18th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James raised their target price 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 equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

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.