NBW Capital LLC Has $471,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

NBW Capital LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,038 shares of the company’s stock after selling 246 shares during the quarter. NBW Capital LLC’s holdings in AbbVie were worth $471,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Retirement Income Solutions Inc purchased a new stake in shares of AbbVie during the 1st quarter worth about $204,000. Ergoteles LLC raised its stake in shares of AbbVie by 17.8% in the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after acquiring an additional 847 shares in the last quarter. First Western Trust Bank bought a new position in shares of AbbVie in the 1st quarter valued at approximately $1,150,000. Wsfs Capital Management LLC bought a new position in shares of AbbVie in the 1st quarter valued at approximately $562,000. Finally, Bridgewater Associates LP raised its stake in shares of AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after acquiring an additional 33,661 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock traded up $0.90 during trading on Thursday, hitting $165.15. The company had a trading volume of 2,524,908 shares, compared to its average volume of 5,610,471. The company has a fifty day moving average price of $175.79 and a two-hundred day moving average price of $159.94. 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 company has a market cap of $292.42 billion, a P/E ratio of 60.89, a P/E/G ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.60 EPS. Equities research analysts expect that AbbVie Inc. will post 11.17 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 227.11%.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABBV shares. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Raymond James raised their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Barclays raised their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

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.