Nadler Financial Group Inc. Sells 4,107 Shares of AbbVie Inc. (NYSE:ABBV)

Nadler Financial Group Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 29.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,816 shares of the company’s stock after selling 4,107 shares during the quarter. Nadler Financial Group Inc.’s holdings in AbbVie were worth $1,521,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Aspen Wealth Strategies LLC boosted its holdings in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after buying an additional 61 shares during the period. Marks Group Wealth Management Inc lifted its stake in AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares in the last quarter. Avion Wealth lifted its stake in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after purchasing an additional 65 shares in the last quarter. First Bank & Trust lifted its stake in AbbVie by 0.4% in the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares in the last quarter. Finally, Hudock Inc. lifted its stake in AbbVie by 2.5% in the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets increased their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

Shares of ABBV traded down $8.30 during mid-day trading on Friday, reaching $158.99. The stock had a trading volume of 4,573,589 shares, compared to its average volume of 5,577,289. The firm has a market cap of $281.52 billion, a price-to-earnings ratio of 58.94, a PEG ratio of 2.13 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business has a fifty day moving average of $174.94 and a 200 day moving average of $160.67. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.20 by $0.11. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Equities analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Activity at AbbVie

In other news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $4,802,413.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

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.