Alliance Wealth Advisors LLC UT Has $2.49 Million Position in AbbVie Inc. (NYSE:ABBV)

Alliance Wealth Advisors LLC UT lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,078 shares of the company’s stock after selling 465 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in AbbVie were worth $2,492,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares in the last quarter. Morgan Stanley raised its position in AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Northern Trust Corp raised its position in AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after purchasing an additional 491,391 shares in the last quarter. Bank of New York Mellon Corp raised its position in AbbVie by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after purchasing an additional 352,817 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in AbbVie by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock worth $2,098,436,000 after purchasing an additional 199,833 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ABBV shares. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Stock Down 4.6 %

AbbVie stock traded down $7.67 during mid-day trading on Friday, reaching $159.62. The company’s stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The company has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business’s 50 day simple moving average is $174.59 and its 200 day simple moving average is $160.74. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.51, for a total value of $2,441,295.03. Following the completion of the sale, the executive vice president now owns 28,173 shares in the company, valued at approximately $5,000,989.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated 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 owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock valued at $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.