Global Trust Asset Management LLC Sells 197 Shares of AbbVie Inc. (NYSE:ABBV)

Global Trust Asset Management LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,278 shares of the company’s stock after selling 197 shares during the quarter. Global Trust Asset Management LLC’s holdings in AbbVie were worth $760,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Mill Creek Capital Advisors LLC lifted its position in AbbVie by 9.2% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock worth $641,000 after buying an additional 316 shares in the last quarter. Semmax Financial Advisors Inc. increased its position in shares of AbbVie by 33.0% in the second quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock valued at $101,000 after acquiring an additional 146 shares during the last quarter. NBW Capital LLC raised its holdings in AbbVie by 1,167.8% during the second quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock worth $6,635,000 after acquiring an additional 35,631 shares in the last quarter. Alpha DNA Investment Management LLC boosted its position in AbbVie by 44.9% during the second quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock valued at $3,010,000 after purchasing an additional 5,437 shares during the last quarter. Finally, Alley Investment Management Company LLC grew its stake in AbbVie by 0.4% in the second quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock valued at $19,594,000 after purchasing an additional 411 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 2.0 %

ABBV stock opened at $169.19 on Thursday. The stock has a market capitalization of $298.98 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average price of $175.75 and a 200-day moving average price of $184.84. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.88%. AbbVie’s payout ratio is currently 227.78%.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.