AbbVie Inc. (NYSE:ABBV) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,561 shares of the company’s stock after selling 2,040 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in AbbVie were worth $8,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. DeDora Capital Inc. grew its stake in shares of AbbVie by 5.0% during the 3rd quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock worth $2,803,000 after purchasing an additional 898 shares during the period. Goldstein Advisors LLC grew its stake in AbbVie by 11.9% in the 3rd quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock valued at $722,000 after acquiring an additional 514 shares during the period. SS&H Financial Advisors Inc. acquired a new stake in AbbVie in the 3rd quarter valued at $7,748,000. Next Capital Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at $261,000. Finally, Opal Wealth Advisors LLC grew its stake in AbbVie by 1.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock valued at $1,012,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. BMO Capital Markets lifted their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim lifted 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, March 22nd. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Trading Down 4.6 %

Shares of NYSE ABBV traded down $7.67 during trading on Friday, hitting $159.62. 10,721,740 shares of the company were exchanged, compared to its average volume of 5,004,945. AbbVie Inc. has a 12-month low of $130.96 and a 12-month 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 company has a fifty day moving average price of $174.59 and a 200-day moving average price of $160.74. The firm has a market capitalization of $282.63 billion, a PE ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.88%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie 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.