Todd Asset Management LLC Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Todd Asset Management LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,850 shares of the company’s stock after selling 43,417 shares during the quarter. Todd Asset Management LLC’s holdings in AbbVie were worth $38,099,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AJOVista LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $250,000. Provence Wealth Management Group increased its position in AbbVie by 9.3% during the 4th quarter. Provence Wealth Management Group now owns 3,907 shares of the company’s stock valued at $605,000 after buying an additional 331 shares in the last quarter. Blue Fin Capital Inc. raised its stake in AbbVie by 0.7% in the fourth quarter. Blue Fin Capital Inc. now owns 14,465 shares of the company’s stock valued at $2,242,000 after buying an additional 99 shares during the last quarter. VeraBank N.A. boosted its holdings in AbbVie by 2.2% in the fourth quarter. VeraBank N.A. now owns 13,102 shares of the company’s stock worth $2,030,000 after acquiring an additional 279 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in shares of AbbVie by 6.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 8,419 shares of the company’s stock worth $1,305,000 after acquiring an additional 505 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Raymond James boosted their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial lifted their price objective 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. Finally, BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Trading Up 1.9 %

Shares of ABBV traded up $2.98 during mid-day trading on Friday, reaching $163.79. The stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The business’s fifty day moving average is $173.13 and its 200 day moving average is $161.22. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market cap of $290.01 billion, a price-to-earnings ratio of 48.60, a P/E/G ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 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.