AbbVie Inc. (NYSE:ABBV) Holdings Trimmed by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 38,221 shares of the company’s stock after selling 59 shares during the quarter. Schechter Investment Advisors LLC’s holdings in AbbVie were worth $6,792,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wernau Asset Management Inc. bought a new stake in AbbVie in the fourth quarter valued at about $264,000. Gryphon Financial Partners LLC increased its stake in shares of AbbVie by 1.1% in the 4th quarter. Gryphon Financial Partners LLC now owns 86,079 shares of the company’s stock valued at $15,296,000 after acquiring an additional 903 shares during the last quarter. Mission Wealth Management LP raised its position in shares of AbbVie by 2.2% during the fourth quarter. Mission Wealth Management LP now owns 47,753 shares of the company’s stock worth $8,486,000 after purchasing an additional 1,020 shares during the period. Garrett Wealth Advisory Group LLC increased its stake in AbbVie by 61.8% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 2,347 shares of the company’s stock valued at $417,000 after buying an additional 896 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of AbbVie by 8.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 26,959 shares of the company’s stock valued at $5,126,000 after buying an additional 2,214 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Guggenheim upped their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Finally, Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Five 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

NYSE ABBV opened at $209.07 on Monday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $209.60. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market capitalization of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The business’s fifty day moving average is $184.42 and its 200 day moving average is $186.91.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

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.