Colonial Trust Advisors Has $460,000 Position in AbbVie Inc. (NYSE:ABBV)

Colonial Trust Advisors reduced its stake in AbbVie Inc. (NYSE:ABBV) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,590 shares of the company’s stock after selling 143 shares during the period. Colonial Trust Advisors’ holdings in AbbVie were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ABBV. F M Investments LLC grew its position in AbbVie by 13.9% in the fourth quarter. F M Investments LLC now owns 59,371 shares of the company’s stock valued at $10,550,000 after acquiring an additional 7,226 shares during the period. DRW Securities LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $798,000. Azimuth Capital Investment Management LLC lifted its holdings in AbbVie by 6.3% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 107,759 shares of the company’s stock valued at $19,149,000 after purchasing an additional 6,388 shares during the last quarter. APG Asset Management N.V. boosted its position in AbbVie by 425.2% in the fourth quarter. APG Asset Management N.V. now owns 1,768,847 shares of the company’s stock valued at $303,548,000 after buying an additional 1,432,074 shares in the last quarter. Finally, Straightline Group LLC bought a new stake in AbbVie during the fourth quarter worth about $242,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday. Morgan Stanley boosted their price objective on AbbVie from $239.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Piper Sandler raised their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $210.71.

AbbVie Price Performance

Shares of ABBV opened at $173.80 on Friday. The stock has a market cap of $307.44 billion, a P/E ratio of 72.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock’s 50-day moving average price is $200.47 and its two-hundred day moving average price is $188.60. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 quarter last year, the firm posted $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.25% of the company’s stock.

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.