Fortis Capital Management LLC Has $926,000 Stake in AbbVie Inc. (NYSE:ABBV)

Fortis Capital Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,209 shares of the company’s stock after selling 697 shares during the period. Fortis Capital Management LLC’s holdings in AbbVie were worth $926,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its position in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after buying an additional 58 shares during the last quarter. Canopy Partners LLC raised its position in shares of AbbVie by 1.4% during the third quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after buying an additional 59 shares during the last quarter. Finally, Doliver Advisors LP raised its position in shares of AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after buying an additional 59 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $209.98 on Friday. The company has a market capitalization of $370.68 billion, a PE ratio of 87.49, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a 50-day simple moving average of $194.49 and a two-hundred day simple moving average of $188.67. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter in the prior year, the company earned $2.79 earnings per share. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.12%. AbbVie’s dividend payout ratio is presently 273.33%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Morgan Stanley raised their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Finally, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.