Mitchell Mcleod Pugh & Williams Inc. Sells 123 Shares of AbbVie Inc. (NYSE:ABBV)

Mitchell Mcleod Pugh & Williams Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,396 shares of the company’s stock after selling 123 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in AbbVie were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 39.5% in the third 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. Horrell Capital Management Inc. acquired a new position in shares of AbbVie in the 3rd quarter valued at $45,000. Core Wealth Advisors Inc. lifted its stake in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares during the period. Bourgeon Capital Management LLC lifted its stake in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $53,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’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 completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. 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 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Down 0.5 %

Shares of NYSE:ABBV traded down $0.73 on Monday, hitting $158.89. The company had a trading volume of 1,489,616 shares, compared to its average volume of 5,602,661. The firm’s 50-day simple moving average is $174.59 and its two-hundred day simple moving average is $160.90. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The firm has a market capitalization of $281.34 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABBV shares. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Three 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.92.

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.