Colonial River Wealth Management LLC Sells 2,100 Shares of AbbVie Inc. (NYSE:ABBV)

Colonial River Wealth Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,194 shares of the company’s stock after selling 2,100 shares during the quarter. Colonial River Wealth Management LLC’s holdings in AbbVie were worth $1,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $36,000. VitalStone Financial LLC raised its holdings in shares of AbbVie by 218.4% in the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the period. True Wealth Design LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $39,000. KB Financial Partners LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $45,000. Finally, PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie in the 2nd quarter valued at about $38,000. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. 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 stock in a transaction that occurred on 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 directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.0 %

ABBV traded down $0.04 during trading on Tuesday, hitting $180.72. 4,523,844 shares of the company’s stock traded hands, compared to its average volume of 5,643,128. The company’s 50 day simple moving average is $175.54 and its two-hundred day simple moving average is $158.67. The stock has a market capitalization of $319.99 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 2.31 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $3.60 EPS. Analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Monday, December 11th. 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 upped 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 research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.43.

Read Our Latest Stock Report on AbbVie

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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