Prentiss Smith & Co. Inc. Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Prentiss Smith & Co. Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 11.0% in the 4th quarter, Holdings Channel reports. The fund owned 5,052 shares of the company’s stock after selling 623 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in AbbVie were worth $783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Bell Private Wealth Management LLC increased its stake in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Horrell Capital Management Inc. bought a new stake in AbbVie during the 3rd quarter valued at about $45,000. Bourgeon Capital Management LLC increased its stake in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares in the last quarter. Naples Money Management LLC bought a new stake in AbbVie during the 4th quarter valued at about $53,000. Finally, Core Wealth Advisors Inc. increased its stake in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays lifted their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Price Performance

Shares of ABBV traded down $0.52 during trading hours on Thursday, reaching $167.28. 5,502,087 shares of the stock traded hands, compared to its average volume of 5,594,213. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The company has a market cap of $296.19 billion, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The company’s 50-day moving average price is $175.13 and its two-hundred day moving average price is $160.62.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.60 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is 227.11%.

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.