Bison Wealth LLC Sells 8,460 Shares of AbbVie Inc. (NYSE:ABBV)

Bison Wealth LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 43.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,881 shares of the company’s stock after selling 8,460 shares during the period. Bison Wealth LLC’s holdings in AbbVie were worth $1,934,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Navigoe LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $130,000. WealthCollab LLC increased its holdings in AbbVie by 58.2% during the 4th quarter. WealthCollab LLC now owns 348 shares of the company’s stock worth $62,000 after purchasing an additional 128 shares in the last quarter. Bridgewealth Advisory Group LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $217,000. Voleon Capital Management LP bought a new position in shares of AbbVie in the fourth quarter valued at approximately $11,381,000. Finally, Evergreen Wealth Solutions LLC lifted its holdings in shares of AbbVie by 1.9% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 3,863 shares of the company’s stock valued at $687,000 after purchasing an additional 73 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.6 %

ABBV stock opened at $193.55 on Wednesday. The business has a fifty day moving average price of $196.60 and a 200-day moving average price of $187.16. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock has a market capitalization of $342.39 billion, a P/E ratio of 80.65, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping 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 in the previous year, the firm earned $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed 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 3.39%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 279.15%.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s 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 sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday. Citigroup increased their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.41.

AbbVie Company 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.