Bailard Inc. Sells 182 Shares of AbbVie Inc. (NYSE:ABBV)

Bailard Inc. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 20,931 shares of the company’s stock after selling 182 shares during the quarter. Bailard Inc.’s holdings in AbbVie were worth $3,244,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Aspen Wealth Strategies LLC boosted its holdings in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares in the last quarter. Marks Group Wealth Management Inc boosted its holdings in AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares in the last quarter. Avion Wealth boosted its holdings in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares in the last quarter. First Bank & Trust boosted its holdings in AbbVie by 0.4% in the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares in the last quarter. Finally, Hudock Inc. boosted its holdings in AbbVie by 2.5% in the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after purchasing an additional 68 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’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 transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last three months, insiders sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

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

AbbVie Trading Down 0.5 %

Shares of ABBV stock traded down $0.80 on Thursday, reaching $167.00. 3,452,740 shares of the stock were exchanged, compared to its average volume of 5,566,717. The stock has a market cap of $295.70 billion, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.16 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. The firm has a 50 day moving average of $175.13 and a two-hundred day moving average of $160.62. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) 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 firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm earned $3.60 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.71%. AbbVie’s dividend payout ratio is currently 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.