AbbVie Inc. (NYSE:ABBV) Shares Sold by Geller Advisors LLC

Geller Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,733 shares of the company’s stock after selling 348 shares during the period. Geller Advisors LLC’s holdings in AbbVie were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of AbbVie during the 4th quarter worth approximately $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie during the fourth quarter worth $1,190,951,000. FMR LLC grew its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after acquiring an additional 3,373,156 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ABBV shares. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Citigroup upped 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. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.41.

Insider Activity

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of NYSE:ABBV opened at $184.30 on Friday. The company has a market cap of $326.02 billion, a PE ratio of 76.79, a P/E/G ratio of 1.62 and a beta of 0.56. The company’s 50 day moving average is $194.23 and its two-hundred day moving average is $187.23. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. 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 posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the firm earned $2.31 earnings per share. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.56%. AbbVie’s dividend payout ratio is presently 279.15%.

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.