Doheny Asset Management CA Sells 300 Shares of AbbVie Inc. (NYSE:ABBV)

Doheny Asset Management CA trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,333 shares of the company’s stock after selling 300 shares during the quarter. AbbVie accounts for 2.3% of Doheny Asset Management CA’s holdings, making the stock its 13th biggest position. Doheny Asset Management CA’s holdings in AbbVie were worth $3,080,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $29,000. Promus Capital LLC acquired a new position in AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the 4th quarter worth approximately $35,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.2 %

ABBV stock opened at $211.90 on Friday. 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 fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock has a market capitalization of $374.07 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 1.62 and a beta of 0.61. The business’s fifty day moving average price is $191.09 and its two-hundred day moving average price is $188.16.

AbbVie (NYSE:ABBV) last issued 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 in the prior year, the firm posted $2.79 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABBV. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.45.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.