Altman Advisors Inc. Sells 5,338 Shares of AbbVie Inc. $ABBV

Key Points

• Altman Advisors Inc. cut its AbbVie stake by 33.6% in the fourth quarter, selling 5,338 shares and leaving it with 10,536 shares valued at about $2.41 million.
• AbbVie recently reported better-than-expected quarterly results, posting EPS of $2.65 and revenue of $15 billion, both ahead of estimates and up 12.4% year over year.
• Wall Street remains constructive on the stock, with analysts assigning AbbVie a Moderate Buy consensus and an average price target of $252.90, while the company also pays a quarterly dividend of $1.73 per share.

Altman Advisors Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,536 shares of the company's stock after selling 5,338 shares during the quarter. Altman Advisors Inc.'s holdings in AbbVie were worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. bought a new position in shares of AbbVie during the third quarter worth about $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie during the fourth quarter worth about $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie during the third quarter worth about $31,000. Legacy Wealth Managment LLC ID raised its position in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after acquiring an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC raised its position in shares of AbbVie by 160.4% during the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock worth $32,000 after acquiring an additional 85 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $223.00 price objective on shares of AbbVie in a research report on Wednesday, January 28th. Citigroup lowered their price objective on AbbVie from $235.00 to $230.00 and set a "neutral" rating for the company in a research report on Tuesday, January 27th. Guggenheim reiterated a "buy" rating and issued a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Royal Bank Of Canada started coverage on AbbVie in a report on Tuesday, February 24th. They issued an "outperform" rating and a $260.00 target price for the company. Finally, Piper Sandler lowered their target price on AbbVie from $299.00 to $294.00 and set an "overweight" rating for the company in a report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $252.90.

AbbVie Stock Down 0.7%

NYSE ABBV opened at $201.24 on Friday. The company has a market cap of $355.83 billion, a price-to-earnings ratio of 99.13, a P/E/G ratio of 0.70 and a beta of 0.32. AbbVie Inc. has a 52 week low of $176.57 and a 52 week high of $244.81. The business has a 50 day moving average price of $213.18 and a 200-day moving average price of $221.00.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 14.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $1.73 per share. The ex-dividend date is Wednesday, April 15th. This represents a $6.92 annualized dividend and a dividend yield of 3.4%. AbbVie's payout ratio is currently 340.89%.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of AbbVie stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares of the company's stock, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total value of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.06% of the company's stock.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie continued to draw bullish attention after reporting strong first-quarter results, with revenue and earnings coming in ahead of expectations and showing that growth is extending beyond Humira into newer drugs like Skyrizi and Rinvoq. AbbVie Delivers Strong Q1 Earnings Beyond Humira. This Dividend King Still Shines.
• Positive Sentiment: AbbVie completed an early safety study for ABBV-142, which may improve investor confidence in the company’s pipeline and future oncology growth prospects. AbbVie Completes Early Safety Study for ABBV-142, Nudging Pipeline Hopes Higher
• Positive Sentiment: AbbVie and adMare BioInnovations named RIME Therapeutics as a Biotech Innovators Award winner, reinforcing AbbVie’s efforts to support early-stage biotech innovation and build optionality around its pipeline ecosystem. AbbVie (ABBV), adMare BioInnovations Name RIME Therapeutics as Biotech Innovators Award Winner
• Positive Sentiment: Skyrizi ranked ahead of J&J’s Tremfya in April drug ad spending, signaling continued competitive momentum and heavy marketing support for one of AbbVie’s key growth brands. AbbVie’s Skyrizi beats out J&J’s Tremfya in April drug ad spending leaderboard
• Neutral Sentiment: Analyst commentary and Q1 earnings-call recaps highlighted ongoing interest in AbbVie’s post-Humira growth strategy, but these pieces were mostly interpretive rather than new market-moving disclosures. 5 must-read analyst questions from AbbVie’s Q1 earnings call
• Neutral Sentiment: Coverage on SKYRIZI expansion and reimbursement progress in Canada suggests continued international adoption, but the article framed these as part of an already constructive longer-term thesis rather than a single new catalyst. Does Strong Q1 Results And SKYRIZI Expansion Reshape The Bull Case For AbbVie (ABBV)?
• Negative Sentiment: One relative headwind is that ABBV shares have recently traded below key moving averages, reflecting some investor caution even as fundamentals remain solid.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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