AbbVie Inc. (NYSE:ABBV) Shares Sold by Bender Robert & Associates

Bender Robert & Associates reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 28.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,157 shares of the company’s stock after selling 3,727 shares during the period. AbbVie comprises 0.4% of Bender Robert & Associates’ investment portfolio, making the stock its 28th largest holding. Bender Robert & Associates’ holdings in AbbVie were worth $1,419,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Retirement Income Solutions Inc acquired a new stake in AbbVie during the 1st quarter valued at $204,000. Ergoteles LLC grew its stake in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after acquiring an additional 847 shares in the last quarter. First Western Trust Bank purchased a new stake in shares of AbbVie during the first quarter worth about $1,150,000. Wsfs Capital Management LLC acquired a new position in shares of AbbVie in the first quarter worth about $562,000. Finally, Bridgewater Associates LP boosted its holdings in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets upped their price target on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim upped their target price 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. Finally, Barclays lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Perry C. Siatis sold 13,753 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.41 during midday trading on Thursday, reaching $164.66. The company’s stock had a trading volume of 4,479,358 shares, compared to its average volume of 5,637,507. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a market cap of $291.56 billion, a price-to-earnings ratio of 60.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The company has a 50 day moving average price of $175.79 and a 200 day moving average price of $159.94. 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 (NYSE:ABBV) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the business posted $3.60 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 11.17 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.77%. AbbVie’s payout ratio is 227.11%.

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.