Trueblood Wealth Management LLC Sells 233 Shares of AbbVie Inc. (NYSE:ABBV)

Trueblood Wealth Management LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,114 shares of the company’s stock after selling 233 shares during the period. Trueblood Wealth Management LLC’s holdings in AbbVie were worth $1,086,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

Shares of ABBV opened at $171.49 on Monday. The stock has a market capitalization of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a fifty day simple moving average of $175.78 and a two-hundred day simple moving average of $184.75.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. AbbVie’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. 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 yield of 3.83%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. 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. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Five investment 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 company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

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 stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.