AbbVie Inc. (NYSE:ABBV) Shares Acquired by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,079 shares of the company’s stock after buying an additional 216 shares during the quarter. Cutler Investment Counsel LLC’s holdings in AbbVie were worth $632,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ABBV. Vanguard Group Inc. grew its stake in AbbVie by 0.9% during the 3rd 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 in the last quarter. Morgan Stanley grew its stake in AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Northern Trust Corp grew its stake in AbbVie by 2.3% during 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 in the last quarter. Finally, Bank of New York Mellon Corp grew 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. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded up $0.88 during mid-day trading on Friday, hitting $165.54. 2,786,762 shares of the company’s stock traded hands, compared to its average volume of 5,595,505. The firm has a 50 day moving average price of $175.59 and a 200 day moving average price of $159.97. 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 company has a market cap of $293.11 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last announced its earnings results 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. The firm had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 EPS. On average, equities analysts forecast that AbbVie Inc. will post 11.18 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays lifted their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets lifted their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three investment 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 stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $177.43.

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.