Outlook Wealth Advisors LLC Has $226,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Outlook Wealth Advisors LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 24.7% during the first quarter, Holdings Channel.com reports. The firm owned 1,243 shares of the company’s stock after selling 408 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in AbbVie were worth $226,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $26,000. Able Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie during the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie in the first quarter valued at $37,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABBV shares. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays lifted their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Guggenheim upped their price target 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, Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $177.43.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last quarter. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV stock traded down $7.67 during trading on Friday, reaching $159.62. 10,721,740 shares of the company were exchanged, compared to its average volume of 5,004,945. AbbVie Inc. has a twelve month low of $130.96 and a twelve month 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 company has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58. The company has a 50-day moving average of $174.59 and a two-hundred day moving average of $160.74.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 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.