AbbVie Inc. (NYSE:ABBV) Shares Sold by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,927 shares of the company’s stock after selling 493 shares during the quarter. AbbVie accounts for 0.8% of Future Financial Wealth Managment LLC’s investment portfolio, making the stock its 28th biggest position. Future Financial Wealth Managment LLC’s holdings in AbbVie were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GGM Financials LLC lifted its stake in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its stake in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares in the last quarter. Dillon & Associates Inc. lifted its stake in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares in the last quarter. Frisch Financial Group Inc. lifted its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp lifted its stake in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV traded up $2.12 on Monday, reaching $177.29. 2,144,055 shares of the company traded hands, compared to its average volume of 4,662,838. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company’s 50 day moving average is $178.47 and its 200-day moving average is $184.55. The stock has a market capitalization of $313.30 billion, a PE ratio of 61.56, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie’s dividend payout ratio is 227.78%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Morgan Stanley lowered their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Truist Financial lowered their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.