Wesbanco Bank Inc. Sells 9,620 Shares of AbbVie Inc. $ABBV

Key Points

• Wesbanco Bank Inc. cut its AbbVie stake by 10.5% in the fourth quarter, selling 9,620 shares and leaving it with 82,082 shares valued at about $18.8 million.
• AbbVie reported better-than-expected quarterly earnings, posting $2.65 EPS on $15 billion in revenue, both ahead of analyst estimates and up 12.4% year over year.
• The company also declared a quarterly dividend of $1.73 per share, equal to an annualized payout of $6.92 and a yield of 3.4%.

Wesbanco Bank Inc. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,082 shares of the company's stock after selling 9,620 shares during the period. Wesbanco Bank Inc.'s holdings in AbbVie were worth $18,755,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Eclectic Associates Inc. ADV grew its holdings in shares of AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock worth $1,337,000 after purchasing an additional 45 shares during the last quarter. Weil Company Inc. grew its holdings in shares of AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company's stock worth $469,000 after purchasing an additional 46 shares during the last quarter. Hardin Capital Partners LLC grew its holdings in shares of AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock worth $759,000 after purchasing an additional 46 shares during the last quarter. Inlet Private Wealth LLC grew its holdings in shares of AbbVie by 0.3% in the third quarter. Inlet Private Wealth LLC now owns 17,001 shares of the company's stock worth $3,937,000 after purchasing an additional 47 shares during the last quarter. Finally, D.B. Root & Company LLC grew its holdings in shares of AbbVie by 4.3% in the third quarter. D.B. Root & Company LLC now owns 1,152 shares of the company's stock worth $267,000 after purchasing an additional 47 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.7%

Shares of ABBV stock opened at $201.24 on Friday. The stock has a fifty day moving average of $213.18 and a 200 day moving average of $221.00. AbbVie Inc. has a 52 week low of $176.57 and a 52 week high of $244.81. The firm has a market capitalization of $355.83 billion, a price-to-earnings ratio of 99.13, a PEG ratio of 0.70 and a beta of 0.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 911.57% and a net margin of 5.79%.The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same quarter last year, the firm posted $2.46 earnings per share. The firm's revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $6.92 dividend on an annualized basis and a yield of 3.4%. AbbVie's dividend payout ratio (DPR) is presently 340.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABBV shares. Bank of America upgraded shares of AbbVie from a "neutral" rating to a "buy" rating and set a $234.00 target price on the stock in a report on Thursday, April 30th. Morgan Stanley raised their target price on shares of AbbVie from $270.00 to $278.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. BMO Capital Markets restated an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. William Blair restated an "outperform" rating on shares of AbbVie in a report on Monday, March 9th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $249.00 price target on shares of AbbVie in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $252.90.

AbbVie News Roundup

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.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP David Ryan Purdue sold 5,230 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares of the company's stock, valued at approximately $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 22,381 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total value of $5,147,630.00. Following the transaction, the executive vice president directly owned 38,137 shares of the company's stock, valued at $8,771,510. This represents a 36.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.06% of the company's stock.

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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