Carl P. Sherr & Co. LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Carl P. Sherr & Co. LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,270 shares of the company’s stock after selling 200 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in AbbVie were worth $817,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hibernia Wealth Partners LLC acquired a new stake in AbbVie in the 3rd quarter worth about $36,000. PCA Investment Advisory Services Inc. acquired a new stake in AbbVie in the 2nd quarter worth about $38,000. True Wealth Design LLC acquired a new stake in AbbVie in the 4th quarter worth about $39,000. Blue Bell Private Wealth Management LLC raised its stake in AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter worth about $45,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.5 %

ABBV traded up $0.87 during trading on Wednesday, reaching $162.54. 4,881,516 shares of the company’s stock were exchanged, compared to its average volume of 5,260,014. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $287.80 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The firm has a fifty day moving average price of $176.01 and a two-hundred day moving average price of $159.91.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the firm posted $3.60 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 11.12 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Raymond James boosted their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

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.