Stokes Family Office LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Stokes Family Office LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,812 shares of the company’s stock after selling 3,657 shares during the quarter. Stokes Family Office LLC’s holdings in AbbVie were worth $3,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 9258 Wealth Management LLC lifted its position in AbbVie by 1.7% during the fourth quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after purchasing an additional 283 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of AbbVie by 282.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 263,464 shares of the company’s stock valued at $40,829,000 after buying an additional 194,649 shares in the last quarter. SouthState Corp lifted its holdings in shares of AbbVie by 1.0% during the 4th quarter. SouthState Corp now owns 68,074 shares of the company’s stock worth $10,549,000 after acquiring an additional 661 shares during the last quarter. Smart Money Group LLC lifted its holdings in shares of AbbVie by 4.3% during the 4th quarter. Smart Money Group LLC now owns 6,433 shares of the company’s stock worth $997,000 after acquiring an additional 267 shares during the last quarter. Finally, Aveo Capital Partners LLC grew its position in AbbVie by 5.1% in the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock worth $666,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 completion of the transaction, 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 legal filing with the SEC, which is available through this link. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie 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 sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, 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 ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABBV shares. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. 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 report on Tuesday, February 6th. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday. Three investment 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Trading Up 1.9 %

Shares of AbbVie stock traded up $3.00 during trading on Friday, reaching $163.81. 5,849,883 shares of the stock were exchanged, compared to its average volume of 5,662,264. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a market cap of $290.05 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The stock’s fifty day moving average is $173.42 and its 200 day moving average is $161.10.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

AbbVie Company 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.