Omnia Family Wealth LLC Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Omnia Family Wealth LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,496 shares of the company’s stock after selling 332 shares during the quarter. Omnia Family Wealth LLC’s holdings in AbbVie were worth $542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principle Wealth Partners LLC boosted its holdings in shares of AbbVie by 1.5% in the 4th quarter. Principle Wealth Partners LLC now owns 33,755 shares of the company’s stock worth $5,231,000 after purchasing an additional 488 shares during the period. PGGM Investments purchased a new position in shares of AbbVie in the 4th quarter worth approximately $1,830,000. Opinicus Capital Inc. purchased a new position in AbbVie during the 4th quarter valued at $1,296,000. Russell Investments Group Ltd. boosted its holdings in AbbVie by 9.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,056,448 shares of the company’s stock valued at $163,706,000 after acquiring an additional 87,370 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in AbbVie by 2.9% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 3,538 shares of the company’s stock valued at $548,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 4.6 %

Shares of ABBV traded down $7.67 during trading hours on Friday, hitting $159.62. The company 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 PE ratio of 47.37, a price-to-earnings-growth ratio of 2.03 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 one year low of $130.96 and a one year high of $182.89. The company’s fifty day moving average price is $174.59 and its two-hundred day moving average price is $160.82.

AbbVie (NYSE:ABBV) last released 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. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial boosted 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. BMO Capital Markets boosted their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Barclays boosted 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 research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s 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 sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.