Tower View Wealth Management LLC Sells 114 Shares of AbbVie Inc. (NYSE:ABBV)

Tower View Wealth Management LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,273 shares of the company’s stock after selling 114 shares during the quarter. Tower View Wealth Management LLC’s holdings in AbbVie were worth $197,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after buying an additional 1,450,089 shares during the period. Morgan Stanley lifted its holdings in shares of AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Northern Trust Corp grew its position in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after purchasing an additional 491,391 shares during the period. Bank of New York Mellon Corp increased its stake in AbbVie by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock valued at $3,034,276,000 after purchasing an additional 352,817 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of AbbVie by 1.4% in the third quarter. Ameriprise Financial Inc. now owns 14,066,082 shares of the company’s stock valued at $2,098,436,000 after buying an additional 199,833 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the 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 in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded down $2.53 during mid-day trading on Thursday, reaching $159.19. The company’s stock had a trading volume of 1,279,616 shares, compared to its average volume of 5,602,795. The firm’s fifty day moving average price is $173.74 and its two-hundred day moving average price is $161.10. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market cap of $281.87 billion, a P/E ratio of 47.99, a PEG ratio of 2.04 and a beta of 0.61. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. On average, equities analysts forecast that AbbVie Inc. will post 11.3 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.31.

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.