Catalina Capital Group LLC Sells 7,421 Shares of AbbVie Inc. (NYSE:ABBV)

Catalina Capital Group LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 69.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,249 shares of the company's stock after selling 7,421 shares during the quarter. Catalina Capital Group LLC's holdings in AbbVie were worth $681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tallon Kerry Patrick acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $309,000. Capital & Planning LLC raised its stake in AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after acquiring an additional 105 shares during the period. LaFleur & Godfrey LLC lifted its holdings in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares during the last quarter. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $0.91 during midday trading on Friday, hitting $184.59. The stock had a trading volume of 2,637,573 shares, compared to its average volume of 6,229,229. The company's 50-day moving average price is $184.98 and its 200-day moving average price is $187.60. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $326.05 billion, a P/E ratio of 78.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.55%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.29.

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.