Eagle Strategies LLC Sells 73 Shares of AbbVie Inc. (NYSE:ABBV)

Eagle Strategies LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,767 shares of the company’s stock after selling 73 shares during the quarter. Eagle Strategies LLC’s holdings in AbbVie were worth $314,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $29,000. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter valued at $32,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.9 %

ABBV opened at $193.40 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm’s 50 day simple moving average is $196.25 and its two-hundred day simple moving average is $187.20. The company has a market capitalization of $342.11 billion, a PE ratio of 80.58, a PEG ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.31 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.39%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABBV. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $211.41.

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.