Signet Financial Management LLC Has $6.59 Million Position in AbbVie Inc. (NYSE:ABBV)

Signet Financial Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,536 shares of the company’s stock after selling 130 shares during the period. AbbVie comprises about 1.0% of Signet Financial Management LLC’s investment portfolio, making the stock its 21st largest holding. Signet Financial Management LLC’s holdings in AbbVie were worth $6,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares during the last quarter. Northern Trust Corp lifted its position in shares of AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of AbbVie by 1.8% in the third 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 buying an additional 352,817 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. HSBC lowered AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Finally, Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

Shares of ABBV traded up $1.21 during midday trading on Tuesday, hitting $162.88. The company’s stock had a trading volume of 2,472,089 shares, compared to its average volume of 5,630,453. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company’s fifty day simple moving average is $176.23 and its two-hundred day simple moving average is $159.81. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $288.40 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $14.02 billion. During the same quarter last year, the business posted $3.60 EPS. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 11.11 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed 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. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 227.11%.

AbbVie 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.