Crescent Sterling Ltd. Has $3.95 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Crescent Sterling Ltd. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,664 shares of the company’s stock after selling 365 shares during the period. AbbVie accounts for 3.6% of Crescent Sterling Ltd.’s portfolio, making the stock its 7th largest holding. Crescent Sterling Ltd.’s holdings in AbbVie were worth $3,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $26,000. IFS Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter valued at $36,000. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter valued at $37,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $33,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $37,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

AbbVie stock traded up $1.17 during trading hours on Tuesday, hitting $162.69. The company had a trading volume of 5,479,940 shares, compared to its average volume of 5,662,850. The firm has a market cap of $288.07 billion, a PE ratio of 48.28, a PEG ratio of 2.03 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 one year low of $130.96 and a one year high of $182.89. The firm has a 50-day moving average of $174.01 and a 200 day moving average of $161.10.

AbbVie (NYSE:ABBV) last released its quarterly 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 11.02% and a return on equity of 165.18%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $174.31.

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.