New Insight Wealth Advisors Sells 508 Shares of AbbVie Inc. (NYSE:ABBV)

New Insight Wealth Advisors decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,060 shares of the company’s stock after selling 508 shares during the period. New Insight Wealth Advisors’ holdings in AbbVie were worth $721,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Dillon & Associates Inc. grew its stake in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the period. Carr Financial Group Corp lifted its stake in shares of AbbVie by 1.1% during the third quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after acquiring an additional 56 shares during the period. Finally, Wealthstream Advisors Inc. boosted its holdings in AbbVie by 3.0% in the third quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 1.8 %

NYSE:ABBV opened at $214.55 on Monday. The company has a market cap of $378.75 billion, a P/E ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $215.66. The business has a 50 day moving average price of $187.63 and a two-hundred day moving average price of $187.47. 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 announced its earnings results on Friday, January 31st. The company reported $2.16 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 quarter last year, the firm posted $2.79 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.06%. AbbVie’s dividend payout ratio is 273.33%.

Analyst Ratings Changes

Several analysts have weighed in on ABBV shares. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.