SignalPoint Asset Management LLC Sells 101 Shares of AbbVie Inc. (NYSE:ABBV)

SignalPoint Asset Management LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,971 shares of the company’s stock after selling 101 shares during the quarter. SignalPoint Asset Management LLC’s holdings in AbbVie were worth $1,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. PFG Investments LLC lifted its position in shares of AbbVie by 8.0% during the 4th quarter. PFG Investments LLC now owns 15,066 shares of the company’s stock valued at $2,335,000 after acquiring an additional 1,110 shares during the period. Trust Co of the South acquired a new position in shares of AbbVie during the 4th quarter worth $981,000. Tectonic Advisors LLC raised its holdings in shares of AbbVie by 7.0% during the 4th quarter. Tectonic Advisors LLC now owns 28,916 shares of the company’s stock worth $4,481,000 after buying an additional 1,882 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter worth $205,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter worth $361,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.4 %

NYSE:ABBV traded up $0.67 on Tuesday, hitting $179.20. The stock had a trading volume of 4,392,374 shares, compared to its average volume of 5,711,853. The business’s fifty day moving average is $173.79 and its 200 day moving average is $157.59. The company has a market cap of $317.30 billion, a PE ratio of 65.64, a P/E/G ratio of 2.27 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction 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 sale, the executive vice president now directly 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. Over the last three months, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABBV. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price for the company in a report on Monday, December 11th. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays upped their target price on AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.71.

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.