Trinity Financial Advisors LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Trinity Financial Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 61.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,298 shares of the company’s stock after selling 2,089 shares during the period. Trinity Financial Advisors LLC’s holdings in AbbVie were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ABBV. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie in the 4th quarter worth about $44,000. Blue Bell Private Wealth Management LLC grew its position in AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Horrell Capital Management Inc. acquired a new stake in shares of AbbVie in the third quarter valued at approximately $45,000. Bourgeon Capital Management LLC increased its position in AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the period. Finally, Naples Money Management LLC bought a new stake in AbbVie during the 4th quarter valued at $53,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

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 value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $9,184,047.70. Following the completion of the sale, 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, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly 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 have sold 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.3 %

Shares of ABBV stock traded down $0.56 on Wednesday, reaching $162.08. 3,174,264 shares of the company’s stock traded hands, compared to its average volume of 5,630,609. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $286.99 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. The business’s 50 day moving average price is $174.01 and its two-hundred day moving average price is $161.10.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analysts Set New Price Targets

Several brokerages have weighed in on ABBV. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial boosted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

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.