AbbVie Inc. (NYSE:ABBV) Shares Sold by WestHill Financial Advisors Inc.

WestHill Financial Advisors Inc. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,181 shares of the company’s stock after selling 118 shares during the period. WestHill Financial Advisors Inc.’s holdings in AbbVie were worth $493,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Income Solutions Inc purchased a new stake in AbbVie in the first quarter valued at approximately $204,000. Ergoteles LLC grew its holdings in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after purchasing an additional 847 shares during the period. First Western Trust Bank purchased a new stake in AbbVie in the first quarter valued at approximately $1,150,000. Wsfs Capital Management LLC purchased a new stake in AbbVie in the first quarter valued at approximately $562,000. Finally, Bridgewater Associates LP grew its holdings in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV traded up $2.52 during trading on Thursday, hitting $166.77. The stock had a trading volume of 1,449,669 shares, compared to its average volume of 5,595,890. The firm has a market cap of $295.29 billion, a PE ratio of 61.22, a P/E/G ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. 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 company has a 50 day simple moving average of $175.79 and a 200-day simple moving average of $159.94.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 11.17 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 3.72%. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on ABBV shares. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity

In other AbbVie news, 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 transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred 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 owns 243,944 shares in the company, 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 worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

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.