Wealthgarden F.S. LLC Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Wealthgarden F.S. LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 91.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,663 shares of the company’s stock after selling 18,617 shares during the period. Wealthgarden F.S. LLC’s holdings in AbbVie were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $35,000. Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of AbbVie in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $202.03 on Friday. The stock has a market cap of $356.64 billion, a P/E ratio of 84.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. The stock has a 50 day moving average of $181.25 and a 200-day moving average of $186.42. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 EPS. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Analyst Ratings Changes

A number of research analysts have commented on ABBV shares. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets increased their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. UBS Group raised their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

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.