Roanoke Asset Management Corp NY Sells 400 Shares of AbbVie Inc. (NYSE:ABBV)

Roanoke Asset Management Corp NY decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,650 shares of the company’s stock after selling 400 shares during the period. Roanoke Asset Management Corp NY’s holdings in AbbVie were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in AbbVie in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 over the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Citigroup upped their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Up 2.0 %

NYSE ABBV opened at $209.07 on Friday. The stock has a 50 day moving average price of $184.42 and a 200-day moving average price of $186.98. AbbVie Inc. has a one year low of $153.58 and a one year high of $209.60. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market capitalization of $369.09 billion, a P/E ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS 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 business posted $2.79 EPS. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.14%. AbbVie’s dividend payout ratio is currently 273.33%.

AbbVie 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.