Wrapmanager Inc. Sells 624 Shares of AbbVie Inc. (NYSE:ABBV)

Wrapmanager Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,496 shares of the company’s stock after selling 624 shares during the period. Wrapmanager Inc.’s holdings in AbbVie were worth $2,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter valued at $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $204.02 on Tuesday. The company’s 50 day simple moving average is $181.90 and its 200 day simple moving average is $186.51. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $360.17 billion, a price-to-earnings ratio of 85.01, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 EPS. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.22%. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, Morgan Stanley boosted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

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.