IAG Wealth Partners LLC Sells 73 Shares of AbbVie Inc. (NYSE:ABBV)

IAG Wealth Partners LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 9.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 738 shares of the company’s stock after selling 73 shares during the period. IAG Wealth Partners LLC’s holdings in AbbVie were worth $114,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Horrell Capital Management Inc. purchased a new position in AbbVie during the third quarter valued at approximately $45,000. Bourgeon Capital Management LLC grew its stake in AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares in the last quarter. Naples Money Management LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $53,000. Finally, Core Wealth Advisors Inc. grew its stake in AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after acquiring an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 4.6 %

Shares of ABBV opened at $159.62 on Friday. The firm has a market cap of $282.63 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.03 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm has a 50 day moving average price of $174.59 and a 200-day moving average price of $160.82.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 11.19 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. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Activity at AbbVie

In related news, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets boosted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted 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. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Barclays boosted 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 analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.43.

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.