Beaumont Financial Advisors LLC Sells 403 Shares of AbbVie Inc. (NYSE:ABBV)

Beaumont Financial Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,703 shares of the company’s stock after selling 403 shares during the period. Beaumont Financial Advisors LLC’s holdings in AbbVie were worth $1,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Mill Creek Capital Advisors LLC lifted its position in AbbVie by 9.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock valued at $641,000 after purchasing an additional 316 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in shares of AbbVie by 33.0% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock valued at $101,000 after acquiring an additional 146 shares during the last quarter. NBW Capital LLC grew its position in AbbVie by 1,167.8% in the second quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock worth $6,635,000 after acquiring an additional 35,631 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in AbbVie by 44.9% during the second quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock worth $3,010,000 after acquiring an additional 5,437 shares during the last quarter. Finally, Alley Investment Management Company LLC raised its position in AbbVie by 0.4% during the second quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock valued at $19,594,000 after purchasing an additional 411 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $169.19 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a 50 day moving average price of $175.75 and a 200-day moving average price of $184.84. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market capitalization of $298.98 billion, a PE ratio of 58.75, a PEG ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.95 earnings per share. Equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.88%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Morgan Stanley cut their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie 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.