AbbVie Inc. (NYSE:ABBV) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,786 shares of the company's stock after selling 9,922 shares during the period. IHT Wealth Management LLC's holdings in AbbVie were worth $11,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC lifted 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 during the last quarter. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

NYSE ABBV traded up $7.26 during trading hours on Friday, hitting $187.63. The company had a trading volume of 7,552,415 shares, compared to its average volume of 7,183,615. The business has a 50 day moving average of $197.05 and a 200-day moving average of $187.28. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a market cap of $331.92 billion, a PE ratio of 78.20, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 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 3.50%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value 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. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on 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 transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last quarter. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ABBV shares. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday. They issued an "overweight" rating and a $210.00 price objective for the company. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Raymond James reissued an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Morgan Stanley reiterated a "hold" rating on shares of AbbVie in a report on Friday, April 11th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $211.19.

About AbbVie

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.