Bryn Mawr Capital Management LLC Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Bryn Mawr Capital Management LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,390 shares of the company’s stock after selling 248 shares during the period. Bryn Mawr Capital Management LLC’s holdings in AbbVie were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter worth $45,000. Core Wealth Advisors Inc. raised its stake in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 4.6 %

NYSE:ABBV opened at $159.62 on Friday. 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 Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The business’s fifty day moving average price is $174.59 and its 200 day moving average price is $160.74. The firm has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the firm posted $2.46 EPS. The business’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is 227.11%.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now 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 SEC, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research reports. Truist Financial boosted their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

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.