Forza Wealth Management LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Forza Wealth Management LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,194 shares of the company’s stock after selling 200 shares during the period. Forza Wealth Management LLC’s holdings in AbbVie were worth $1,989,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Accelerate Investment Advisors LLC increased its stake in AbbVie by 11.4% during the 4th quarter. Accelerate Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $220,000 after purchasing an additional 127 shares in the last quarter. Cooper Financial Group increased its position in shares of AbbVie by 7.0% during the fourth quarter. Cooper Financial Group now owns 10,241 shares of the company’s stock worth $1,820,000 after acquiring an additional 668 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of AbbVie by 16.5% in the 4th quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after acquiring an additional 3,654 shares during the last quarter. Talbot Financial LLC lifted its position in AbbVie by 4.9% in the 4th quarter. Talbot Financial LLC now owns 96,509 shares of the company’s stock valued at $17,150,000 after acquiring an additional 4,503 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in AbbVie by 0.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 132,253 shares of the company’s stock valued at $23,501,000 after purchasing an additional 1,231 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded up $2.12 during mid-day trading on Monday, reaching $177.29. 2,233,708 shares of the stock traded hands, compared to its average volume of 4,662,838. The company has a market cap of $313.30 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a fifty day moving average price of $178.47 and a 200 day moving average price of $184.55. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie’s dividend payout ratio is 227.78%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

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.