AbbVie Inc. (NYSE:ABBV) Shares Sold by Cyrus J. Lawrence LLC

Cyrus J. Lawrence LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 959 shares of the company’s stock after selling 150 shares during the quarter. Cyrus J. Lawrence LLC’s holdings in AbbVie were worth $170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. lifted its holdings in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Armstrong Advisory Group Inc. lifted its holdings in AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after purchasing an additional 58 shares in the last quarter. Canopy Partners LLC lifted its holdings in AbbVie by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after purchasing an additional 59 shares in the last quarter. Finally, Doliver Advisors LP lifted its holdings in AbbVie by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of ABBV opened at $209.98 on Friday. The stock has a 50-day simple moving average of $194.49 and a 200-day simple moving average of $188.73. 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 1 year low of $153.58 and a 1 year high of $218.66. The stock has a market capitalization of $370.68 billion, a PE ratio of 87.49, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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 dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.12%. AbbVie’s dividend payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research reports. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

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.