Carmel Capital Partners LLC Sells 306 Shares of AbbVie Inc. (NYSE:ABBV)

Carmel Capital Partners LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,746 shares of the company’s stock after selling 306 shares during the quarter. Carmel Capital Partners LLC’s holdings in AbbVie were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Swedbank AB raised its position in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after acquiring an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC raised its position in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the period. United Advisor Group LLC raised its position in shares of AbbVie by 89.9% in the third quarter. United Advisor Group LLC now owns 4,382 shares of the company’s stock valued at $865,000 after purchasing an additional 2,075 shares during the period. JFG Wealth Management LLC raised its position in shares of AbbVie by 8.4% in the third quarter. JFG Wealth Management LLC now owns 2,304 shares of the company’s stock valued at $455,000 after purchasing an additional 178 shares during the period. Finally, Balentine LLC raised its position in shares of AbbVie by 87.4% in the third quarter. Balentine LLC now owns 10,842 shares of the company’s stock valued at $2,141,000 after purchasing an additional 5,056 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Up 1.9 %

ABBV opened at $211.61 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm’s fifty day moving average price is $186.27 and its two-hundred day moving average price is $187.31. The company has a market capitalization of $373.57 billion, a P/E ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Corporate insiders own 0.25% of the company’s stock.

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.