Prudent Man Advisors LLC Sells 826 Shares of AbbVie Inc. (NYSE:ABBV)

Prudent Man Advisors LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,014 shares of the company’s stock after selling 826 shares during the quarter. Prudent Man Advisors LLC’s holdings in AbbVie were worth $891,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. GGM Financials LLC raised its position 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 during the period. Dillon & Associates Inc. lifted its stake in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the period. WFA Asset Management Corp grew its stake in shares of AbbVie by 0.8% during the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after acquiring an additional 55 shares in the last quarter. Physicians Financial Services Inc. increased its position in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Carr Financial Group Corp grew its position in shares of AbbVie by 1.1% in the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction 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. This trade represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock valued at $11,377,057 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Finally, Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 2.0 %

Shares of NYSE:ABBV opened at $209.07 on Friday. The firm has a market cap of $369.09 billion, a P/E ratio of 87.11, a PEG ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $209.60. The business’s 50 day simple moving average is $184.42 and its two-hundred day simple moving average is $186.98. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. AbbVie’s payout ratio is presently 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.