Boyd Watterson Asset Management LLC OH Trims Stake in AbbVie Inc. (NYSE:ABBV)

Boyd Watterson Asset Management LLC OH reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 32,341 shares of the company’s stock after selling 2,072 shares during the period. AbbVie comprises approximately 2.0% of Boyd Watterson Asset Management LLC OH’s holdings, making the stock its 13th biggest position. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $5,012,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its stake in AbbVie by 0.3% in the third quarter. Avior Wealth Management LLC now owns 46,525 shares of the company’s stock worth $6,935,000 after purchasing an additional 129 shares during the last quarter. Founders Financial Securities LLC raised its stake in shares of AbbVie by 9.9% during the third quarter. Founders Financial Securities LLC now owns 4,018 shares of the company’s stock valued at $599,000 after acquiring an additional 362 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of AbbVie by 4.2% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,022 shares of the company’s stock valued at $301,000 after acquiring an additional 82 shares during the last quarter. Mach 1 Financial Group LLC raised its stake in shares of AbbVie by 0.6% during the third quarter. Mach 1 Financial Group LLC now owns 14,611 shares of the company’s stock valued at $2,178,000 after acquiring an additional 84 shares during the last quarter. Finally, Inscription Capital LLC raised its stake in shares of AbbVie by 2.8% during the third quarter. Inscription Capital LLC now owns 15,466 shares of the company’s stock valued at $2,305,000 after acquiring an additional 424 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Activity

In related news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 4.6 %

Shares of NYSE:ABBV traded down $7.67 during trading on Friday, reaching $159.62. 10,721,740 shares of the stock traded hands, compared to its average volume of 5,004,945. The stock has a 50-day moving average of $174.59 and a two-hundred day moving average of $160.74. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $282.63 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

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.