Atlas Private Wealth Advisors Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Atlas Private Wealth Advisors decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,507 shares of the company’s stock after selling 193 shares during the quarter. Atlas Private Wealth Advisors’ holdings in AbbVie were worth $801,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Alethea Capital Management LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $488,000. Goodman Advisory Group LLC lifted its holdings in AbbVie by 3,909.8% in the second quarter. Goodman Advisory Group LLC now owns 13,914 shares of the company’s stock valued at $2,387,000 after acquiring an additional 13,567 shares during the period. Ascent Group LLC boosted its holdings in AbbVie by 4.5% during the second quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock worth $4,421,000 after buying an additional 1,102 shares in the last quarter. Annandale Capital LLC grew its position in shares of AbbVie by 686.6% during the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock valued at $4,992,000 after acquiring an additional 25,406 shares during the period. Finally, Copperwynd Financial LLC increased its position in shares of AbbVie by 29.5% in the second quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock valued at $289,000 after buying an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.4 %

Shares of AbbVie stock opened at $170.05 on Friday. The company has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a 50 day moving average of $175.84 and a 200 day moving average of $184.66. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. As a group, research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.86%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABBV shares. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. UBS Group increased their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.50.

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.