Manhattan West Asset Management LLC Has $434,000 Position in AbbVie Inc. (NYSE:ABBV)

Manhattan West Asset Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,440 shares of the company’s stock after selling 208 shares during the quarter. Manhattan West Asset Management LLC’s holdings in AbbVie were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at $32,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $174.90 on Friday. The stock’s fifty day simple moving average is $200.16 and its 200 day simple moving average is $188.49. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $309.39 billion, a PE ratio of 72.87, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 period in the prior year, the firm posted $2.79 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Bank of America upped their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.71.

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.