AbbVie Inc. (NYSE:ABBV) Shares Sold by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,243 shares of the company’s stock after selling 408 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in AbbVie were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in AbbVie during the 4th quarter worth approximately $3,229,888,000. Massachusetts Financial Services Co. MA boosted its position in AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the period. International Assets Investment Management LLC acquired a new stake in AbbVie in the 4th quarter valued at $499,955,000. Capital International Investors raised its position in AbbVie by 6.0% in the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $7.67 during trading on Friday, reaching $159.62. The stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The firm’s 50 day moving average price is $174.59 and its two-hundred day moving average price is $160.74. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The stock has a market cap of $282.63 billion, a PE ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value 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. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABBV shares. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets raised 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. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Company 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.