AbbVie Inc. (NYSE:ABBV) is Adell Harriman & Carpenter Inc.’s 9th Largest Position

Adell Harriman & Carpenter Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 168,650 shares of the company’s stock after selling 2,435 shares during the period. AbbVie comprises approximately 2.4% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 9th largest position. Adell Harriman & Carpenter Inc.’s holdings in AbbVie were worth $26,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intrust Bank NA grew its stake in shares of AbbVie by 1.5% during the fourth quarter. Intrust Bank NA now owns 23,510 shares of the company’s stock valued at $3,643,000 after acquiring an additional 341 shares in the last quarter. Naviter Wealth LLC grew its stake in AbbVie by 14.2% during the 4th quarter. Naviter Wealth LLC now owns 10,945 shares of the company’s stock valued at $1,696,000 after purchasing an additional 1,365 shares in the last quarter. Mather Group LLC. raised its position in shares of AbbVie by 4.7% in the 4th quarter. Mather Group LLC. now owns 39,498 shares of the company’s stock valued at $6,121,000 after purchasing an additional 1,787 shares in the last quarter. Gilbert & Cook Inc. boosted its stake in shares of AbbVie by 9.8% during the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after buying an additional 861 shares during the last quarter. Finally, Eagle Wealth Strategies LLC purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $380,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on 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 transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three 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, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.90 during midday trading on Monday, hitting $161.52. 6,219,111 shares of the company’s stock were exchanged, compared to its average volume of 5,665,000. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market cap of $286.00 billion, a P/E ratio of 47.49, a PEG ratio of 2.03 and a beta of 0.58. The stock’s 50 day moving average price is $174.59 and its 200-day moving average price is $160.90.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given 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 dividend yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.