Wrapmanager Inc. Sells 624 Shares of AbbVie Inc. (NYSE:ABBV)

Wrapmanager Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 11,496 shares of the company’s stock after selling 624 shares during the quarter. Wrapmanager Inc.’s holdings in AbbVie were worth $2,043,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ABBV. Trifecta Capital Advisors LLC increased its position in shares of AbbVie by 21.6% during the fourth quarter. Trifecta Capital Advisors LLC now owns 36,457 shares of the company’s stock valued at $6,478,000 after purchasing an additional 6,474 shares during the period. Mengis Capital Management Inc. boosted its stake in AbbVie by 2.2% during the fourth quarter. Mengis Capital Management Inc. now owns 9,223 shares of the company’s stock worth $1,639,000 after buying an additional 200 shares in the last quarter. CWS Financial Advisors LLC increased its holdings in AbbVie by 15.3% in the 4th quarter. CWS Financial Advisors LLC now owns 5,560 shares of the company’s stock valued at $988,000 after buying an additional 739 shares during the period. Pine Valley Investments Ltd Liability Co raised its stake in shares of AbbVie by 36.3% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 82,839 shares of the company’s stock valued at $14,721,000 after buying an additional 22,052 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in shares of AbbVie during the 4th quarter worth about $4,660,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.0 %

ABBV stock opened at $204.02 on Tuesday. The business has a fifty day moving average of $181.90 and a 200-day moving average of $186.51. The company has a market cap of $360.17 billion, a P/E ratio of 85.01, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company earned $2.79 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ABBV shares. BMO Capital Markets increased their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

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.