Perfromance Wealth Partners LLC Cuts Stock Position in AbbVie Inc. (NYSE:ABBV)

Perfromance Wealth Partners LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,351 shares of the company’s stock after selling 7,201 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in AbbVie were worth $5,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. VitalStone Financial LLC increased its position in AbbVie by 218.4% in the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after buying an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new stake in AbbVie in the 3rd quarter worth about $36,000. PCA Investment Advisory Services Inc. bought a new stake in AbbVie in the 2nd quarter valued at about $38,000. True Wealth Design LLC purchased a new stake in AbbVie during the fourth quarter valued at about $39,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE ABBV opened at $182.61 on Monday. The firm has a market cap of $323.34 billion, a price-to-earnings ratio of 66.70, a PEG ratio of 2.31 and a beta of 0.58. The company has a 50-day simple moving average of $175.23 and a two-hundred day simple moving average of $158.42. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Analysts Set New Price Targets

Several research firms have issued reports on ABBV. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Monday, December 11th. Barclays raised their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. HSBC cut AbbVie from a “buy” rating to a “hold” rating and decreased their price target for the company from $167.00 to $156.00 in a research report on Monday, December 18th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

Read Our Latest Stock Report on AbbVie

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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