Forte Capital LLC ADV Lowers Position in AbbVie Inc. (NYSE:ABBV)

Forte Capital LLC ADV lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,535 shares of the company’s stock after selling 866 shares during the period. Forte Capital LLC ADV’s holdings in AbbVie were worth $2,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its holdings in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in AbbVie in the fourth quarter worth $44,000. Horrell Capital Management Inc. acquired a new position in shares of AbbVie during the third quarter worth $45,000. Core Wealth Advisors Inc. lifted its holdings in shares of 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 during the last quarter. Finally, Bourgeon Capital Management LLC boosted its position in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ABBV. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three 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 data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s 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 transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction 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 directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

Shares of AbbVie stock traded up $2.98 during trading hours on Friday, reaching $163.79. The stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. AbbVie Inc. has a twelve month low of $130.96 and a twelve month 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 firm has a market capitalization of $290.01 billion, a PE ratio of 48.60, a PEG ratio of 2.07 and a beta of 0.61. The stock’s 50 day moving average is $173.13 and its 200 day moving average is $161.22.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. Equities analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business 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 yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

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.