AbbVie Inc. (NYSE:ABBV) Shares Sold by Geller Advisors LLC

Geller Advisors LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 3.5% in the 4th quarter, Holdings Channel reports. The fund owned 9,733 shares of the company’s stock after selling 348 shares during the period. Geller Advisors LLC’s holdings in AbbVie were worth $1,730,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of ABBV opened at $184.30 on Friday. The stock’s fifty day simple moving average is $194.23 and its 200 day simple moving average is $187.23. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $326.02 billion, a P/E ratio of 76.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 279.15%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Bank of America lifted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.41.

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.