Worth Financial Advisory Group LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Worth Financial Advisory Group LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,136 shares of the company’s stock after selling 144 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in AbbVie were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Tyler Stone Wealth Management lifted its position in AbbVie by 2.2% during the fourth quarter. Tyler Stone Wealth Management now owns 4,566 shares of the company’s stock valued at $811,000 after purchasing an additional 97 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of AbbVie during the 4th quarter valued at about $1,653,000. Aviso Wealth Management lifted its position in shares of AbbVie by 34.9% during the 4th quarter. Aviso Wealth Management now owns 14,375 shares of the company’s stock valued at $2,554,000 after buying an additional 3,719 shares in the last quarter. Graney & King LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $265,000. Finally, Borer Denton & Associates Inc. increased its holdings in AbbVie by 1.6% in the 4th quarter. Borer Denton & Associates Inc. now owns 59,234 shares of the company’s stock worth $10,526,000 after acquiring an additional 920 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $201.16 on Thursday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month 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. The firm has a 50-day moving average price of $196.25 and a 200-day moving average price of $188.87. The firm has a market capitalization of $355.13 billion, a PE ratio of 83.82, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm posted $2.79 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Activity at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABBV shares. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

About AbbVie

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.