Wolff Wiese Magana LLC Sells 1,212 Shares of AbbVie Inc. (NYSE:ABBV)

Wolff Wiese Magana LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,183 shares of the company’s stock after selling 1,212 shares during the period. AbbVie comprises about 2.4% of Wolff Wiese Magana LLC’s portfolio, making the stock its 7th biggest position. Wolff Wiese Magana LLC’s holdings in AbbVie were worth $2,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. VitalStone Financial LLC increased its stake in AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after purchasing an additional 166 shares during the period. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie during the third quarter worth approximately $36,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of AbbVie during the second quarter worth approximately $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $39,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the period. 67.86% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock traded up $0.95 during midday trading on Friday, reaching $178.45. The company’s stock had a trading volume of 4,084,352 shares, compared to its average volume of 6,506,825. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock’s 50 day simple moving average is $173.15 and its 200 day simple moving average is $157.02. The firm has a market capitalization of $315.97 billion, a PE ratio of 65.37, a P/E/G ratio of 2.26 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 2,912 shares of AbbVie stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total transaction of $450,544.64. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $8,649,312.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 2,912 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total value of $450,544.64. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $8,649,312.16. The disclosure for this sale can be found here. Insiders sold a total of 386,236 shares of company stock worth $68,230,547 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABBV shares. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $176.71.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, 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.