Hollencrest Capital Management Has $1.06 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Hollencrest Capital Management decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 5,989 shares of the company’s stock after selling 232 shares during the period. Hollencrest Capital Management’s holdings in AbbVie were worth $1,064,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ABBV. Swedbank AB raised its stake in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after acquiring an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC grew its holdings in shares of AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after purchasing an additional 273,078 shares during the last quarter. United Bank bought a new stake in shares of AbbVie during the third quarter worth about $217,000. Finally, Ashton Thomas Securities LLC grew its holdings in shares of AbbVie by 21.5% during the third quarter. Ashton Thomas Securities LLC now owns 1,942 shares of the company’s stock worth $384,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Finally, UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of ABBV opened at $213.71 on Wednesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The business’s 50 day moving average price is $189.16 and its two-hundred day moving average price is $187.73. The firm has a market cap of $377.28 billion, a PE ratio of 89.05, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business earned $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.