Signet Financial Management LLC Sells 130 Shares of AbbVie Inc. (NYSE:ABBV)

Signet Financial Management LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,536 shares of the company’s stock after selling 130 shares during the quarter. AbbVie accounts for 1.0% of Signet Financial Management LLC’s portfolio, making the stock its 21st largest position. Signet Financial Management LLC’s holdings in AbbVie were worth $6,592,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hibernia Wealth Partners LLC bought a new stake in AbbVie during the 3rd quarter valued at about $36,000. PCA Investment Advisory Services Inc. bought a new stake in AbbVie during the 2nd quarter valued at about $38,000. True Wealth Design LLC bought a new stake in AbbVie during the 4th quarter valued at about $39,000. Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in AbbVie during the 3rd quarter valued at about $45,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.7 %

Shares of ABBV traded up $1.21 during mid-day trading on Tuesday, reaching $162.88. The stock had a trading volume of 2,472,089 shares, compared to its average volume of 5,630,453. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The business’s fifty day moving average is $176.23 and its 200 day moving average is $159.81. The firm has a market cap of $288.40 billion, a price-to-earnings ratio of 59.91, a P/E/G ratio of 2.07 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

AbbVie Dividend Announcement

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

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three research 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 currently has an average rating of “Moderate Buy” and a consensus price target 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.