AbbVie Inc. (NYSE:ABBV) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,116 shares of the company’s stock after selling 135 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in AbbVie were worth $2,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in AbbVie by 9.0% in the 4th quarter. Russell Investments Group Ltd. now owns 1,056,448 shares of the company’s stock worth $163,706,000 after purchasing an additional 87,370 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC raised its holdings in AbbVie by 2.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 3,538 shares of the company’s stock worth $548,000 after purchasing an additional 100 shares during the period. White Pine Capital LLC raised its holdings in AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after purchasing an additional 65 shares during the period. Stuart Chaussee & Associates Inc. raised its holdings in AbbVie by 18.9% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 967 shares of the company’s stock worth $150,000 after purchasing an additional 154 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $296,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was 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 approximately $92,020,679.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ABBV. 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. Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Down 4.6 %

Shares of NYSE ABBV traded down $7.67 during mid-day trading on Friday, hitting $159.62. The company had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The company has a market capitalization of $282.63 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The business’s 50-day simple moving average is $174.59 and its 200 day simple moving average is $160.74.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

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.