Northwest Capital Management Inc Sells 75 Shares of AbbVie Inc. (NYSE:ABBV)

Northwest Capital Management Inc lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,352 shares of the company’s stock after selling 75 shares during the quarter. Northwest Capital Management Inc’s holdings in AbbVie were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB bought a new stake in AbbVie in the third quarter valued at about $8,777,000. Swedbank AB boosted its holdings in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares in the last quarter. Howard Capital Management Group LLC grew its stake in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the period. Country Club Bank grew its stake in shares of AbbVie by 8.1% in the 3rd quarter. Country Club Bank now owns 10,890 shares of the company’s stock valued at $2,121,000 after purchasing an additional 820 shares during the period. Finally, Covenant Partners LLC raised its holdings in shares of AbbVie by 1.5% in the 3rd quarter. Covenant Partners LLC now owns 9,313 shares of the company’s stock worth $1,839,000 after buying an additional 135 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Raymond James reissued an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $202.03 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm has a fifty day moving average of $181.25 and a 200-day moving average of $186.41. The firm has a market capitalization of $356.65 billion, a price-to-earnings ratio of 84.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie’s payout ratio is 273.33%.

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.