Financial Security Advisor Inc. Sells 75 Shares of AbbVie Inc. (NYSE:ABBV)

Financial Security Advisor Inc. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,025 shares of the company’s stock after selling 75 shares during the period. Financial Security Advisor Inc.’s holdings in AbbVie were worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Groupama Asset Managment grew its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $35,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Bank of America restated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $205.06 on Friday. The stock has a market cap of $362.00 billion, a price-to-earnings ratio of 85.44, a PEG ratio of 1.62 and a beta of 0.58. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a 50-day simple moving average of $183.75 and a 200 day simple moving average of $186.85. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 in the previous year, the company earned $2.79 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. AbbVie’s payout ratio is 273.33%.

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.