AbbVie Inc. (NYSE:ABBV) Shares Sold by IAG Wealth Partners LLC

IAG Wealth Partners LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,165 shares of the company’s stock after selling 104 shares during the quarter. IAG Wealth Partners LLC’s holdings in AbbVie were worth $207,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CFO4Life Group LLC boosted its position in shares of AbbVie by 7.1% in the 4th quarter. CFO4Life Group LLC now owns 3,197 shares of the company’s stock valued at $568,000 after purchasing an additional 212 shares during the period. Balboa Wealth Partners boosted its position in shares of AbbVie by 4.5% in the 4th quarter. Balboa Wealth Partners now owns 7,193 shares of the company’s stock valued at $1,278,000 after purchasing an additional 308 shares during the period. Erste Asset Management GmbH boosted its position in shares of AbbVie by 7.5% in the 4th quarter. Erste Asset Management GmbH now owns 139,949 shares of the company’s stock valued at $24,911,000 after purchasing an additional 9,765 shares during the period. Tredje AP fonden boosted its position in shares of AbbVie by 2.2% in the 4th quarter. Tredje AP fonden now owns 749,458 shares of the company’s stock valued at $133,179,000 after purchasing an additional 16,338 shares during the period. Finally, Mascoma Wealth Management LLC lifted its position in AbbVie by 12.3% during the 4th quarter. Mascoma Wealth Management LLC now owns 797 shares of the company’s stock worth $142,000 after acquiring an additional 87 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,439 shares of company stock valued at $11,377,057. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $211.80 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a market capitalization of $373.91 billion, a P/E ratio of 88.25, a PEG ratio of 1.62 and a beta of 0.61. The business has a 50 day moving average price of $189.84 and a 200 day moving average price of $187.89. 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company posted $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.