Dumont & Blake Investment Advisors LLC Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Dumont & Blake Investment Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,092 shares of the company’s stock after selling 1,347 shares during the period. AbbVie comprises 0.8% of Dumont & Blake Investment Advisors LLC’s holdings, making the stock its 29th biggest position. Dumont & Blake Investment Advisors LLC’s holdings in AbbVie were worth $2,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Syntax Advisors LLC lifted its position in shares of AbbVie by 4.2% in the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. Goepper Burkhardt LLC raised its stake in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after acquiring an additional 67 shares in the last quarter. First Bank & Trust raised its stake in shares of AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares in the last quarter. Hudock Inc. raised its stake in shares of AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after acquiring an additional 68 shares in the last quarter. Finally, Clearwater Capital Advisors LLC increased its stake in AbbVie by 3.9% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV traded down $3.91 during mid-day trading on Wednesday, reaching $176.78. The company’s stock had a trading volume of 3,718,791 shares, compared to its average volume of 5,610,922. The stock has a 50-day moving average of $175.80 and a two-hundred day moving average of $158.87. The stock has a market capitalization of $313.02 billion, a P/E ratio of 65.56, a P/E/G ratio of 2.30 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective on the stock in a research note on Monday, December 11th. Four investment 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. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

View Our Latest Stock Analysis on ABBV

Insider Transactions at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. 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 Company Profile

(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.

Featured Stories

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.