Bfsg LLC Has $4.02 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Bfsg LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,918 shares of the company’s stock after selling 240 shares during the period. Bfsg LLC’s holdings in AbbVie were worth $4,016,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. acquired a new stake in shares of AbbVie during the third quarter worth about $45,000. Core Wealth Advisors Inc. raised its position in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the period. Bourgeon Capital Management LLC raised its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie 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 completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV traded down $1.55 during mid-day trading on Thursday, reaching $166.25. The company’s stock had a trading volume of 1,401,016 shares, compared to its average volume of 5,541,868. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market cap of $294.37 billion, a P/E ratio of 60.97, a PEG ratio of 2.16 and a beta of 0.58. The business has a 50-day simple moving average of $175.13 and a two-hundred day simple moving average of $160.62. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $3.60 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.73%. AbbVie’s payout ratio is currently 227.11%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. 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 target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.