Terra Nova Asset Management LLC Sells 1,163 Shares of AbbVie Inc. (NYSE:ABBV)

Terra Nova Asset Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 37.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,981 shares of the company’s stock after selling 1,163 shares during the period. Terra Nova Asset Management LLC’s holdings in AbbVie were worth $307,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hibernia Wealth Partners LLC bought a new position in AbbVie during the 3rd quarter valued at approximately $36,000. VitalStone Financial LLC increased its position in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after buying an additional 166 shares during the period. True Wealth Design LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $39,000. KB Financial Partners LLC bought a new stake in AbbVie in the first quarter worth $45,000. Finally, PCA Investment Advisory Services Inc. bought a new stake in shares of AbbVie during the second quarter valued at approximately $38,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $181.97 on Friday. The company has a fifty day moving average of $174.51 and a two-hundred day moving average of $157.96. The company has a market capitalization of $322.21 billion, a PE ratio of 66.66, a P/E/G ratio of 2.28 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 EPS. As a group, analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last three months, insiders sold 383,324 shares of company stock valued at $67,780,003. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABBV shares. BMO Capital Markets raised their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and lowered their price target for the company from $167.00 to $156.00 in a report on Monday, December 18th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

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.