McElhenny Sheffield Capital Management LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

McElhenny Sheffield Capital Management LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,357 shares of the company’s stock after selling 6,737 shares during the quarter. AbbVie makes up approximately 0.8% of McElhenny Sheffield Capital Management LLC’s holdings, making the stock its 15th biggest position. McElhenny Sheffield Capital Management LLC’s holdings in AbbVie were worth $1,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. O Dell Group LLC increased its position in shares of AbbVie by 108.7% during the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of AbbVie by 85.3% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. Align Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $27,000. Activest Wealth Management bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $31,000. Finally, Clear Perspectives Financial Planning LLC bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Insider Activity

In other news, SVP Elaine K. Sorg sold 15,003 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the completion of the transaction, the senior vice president now directly owns 42,829 shares in the company, valued at approximately $6,638,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Elaine K. Sorg sold 15,003 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the sale, the senior vice president now owns 42,829 shares in the company, valued at approximately $6,638,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $152.28, for a total value of $8,089,875.00. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at approximately $9,280,095.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,746 shares of company stock worth $24,267,450. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABBV shares. SVB Leerink upgraded AbbVie from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Piper Sandler boosted their price objective on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. SVB Securities upgraded AbbVie from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Piper Jaffray Companies boosted their price objective on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Friday, February 10th. Finally, Atlantic Securities cut their price objective on AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Friday, February 10th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.12.

AbbVie Stock Down 0.7 %

NYSE ABBV opened at $154.22 on Friday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.84 and a current ratio of 0.96. The company has a market capitalization of $272.88 billion, a P/E ratio of 23.33, a P/E/G ratio of 3.50 and a beta of 0.62. AbbVie Inc. has a one year low of $134.09 and a one year high of $175.91. The stock has a 50 day moving average price of $151.13 and a 200-day moving average price of $150.93.

AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Thursday, February 9th. The company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. AbbVie had a return on equity of 154.52% and a net margin of 20.39%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.31 EPS. As a group, equities analysts predict that AbbVie Inc. will post 11 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.84%. AbbVie’s dividend payout ratio is currently 89.56%.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.