Washburn Capital Management Inc. Sells 217 Shares of AbbVie Inc. (NYSE:ABBV)

Washburn Capital Management Inc. reduced its position in AbbVie Inc. (NYSE:ABBVFree Report) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 5,322 shares of the company’s stock after selling 217 shares during the quarter. AbbVie comprises approximately 0.6% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Washburn Capital Management Inc.’s holdings in AbbVie were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Altfest L J & Co. Inc. raised its holdings in AbbVie by 0.9% during the 3rd quarter. Altfest L J & Co. Inc. now owns 23,346 shares of the company’s stock worth $3,480,000 after purchasing an additional 215 shares during the last quarter. Torray Investment Partners LLC increased its stake in shares of AbbVie by 13.0% in the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after acquiring an additional 2,446 shares during the last quarter. Retirement Planning Co of New England Inc. increased its stake in shares of AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after acquiring an additional 4,633 shares during the last quarter. Amplius Wealth Advisors LLC grew its position in shares of AbbVie by 17.6% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares during the period. Finally, Synovus Financial Corp grew its position in shares of AbbVie by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 118,795 shares of the company’s stock valued at $17,709,000 after purchasing an additional 6,139 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 1.8 %

Shares of NYSE ABBV traded down $3.28 during trading hours on Wednesday, hitting $177.41. The company had a trading volume of 3,454,664 shares, compared to its average volume of 5,606,238. The stock has a market capitalization of $314.13 billion, a P/E ratio of 65.56, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm’s 50 day moving average is $175.80 and its 200-day moving average is $158.87.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the business earned $3.60 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABBV. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Monday, December 11th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Raymond James upped their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

View Our Latest Analysis on ABBV

Insider Activity at AbbVie

In related news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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