AbbVie Inc. (NYSE:ABBV) Position Reduced by Transatlantique Private Wealth LLC

by · The Markets Daily

Transatlantique Private Wealth LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,427 shares of the company’s stock after selling 236 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in AbbVie were worth $787,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. Raymond James reissued an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Bank of America boosted 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. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial lifted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $210.71.

Read Our Latest Report on ABBV

AbbVie Price Performance

Shares of NYSE:ABBV opened at $172.78 on Friday. The business has a 50-day moving average of $198.47 and a two-hundred day moving average of $187.76. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock has a market capitalization of $305.64 billion, a P/E ratio of 71.99, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. 0.25% of the stock is currently owned by insiders.

AbbVie 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.

Further Reading

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