Hazlett Burt & Watson Inc. Sells 139 Shares of AbbVie Inc. (NYSE:ABBV)

Hazlett Burt & Watson Inc. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 9,277 shares of the company’s stock after selling 139 shares during the period. Hazlett Burt & Watson Inc.’s holdings in AbbVie were worth $1,651,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in AbbVie by 42.7% in the 4th quarter. Wellington Management Group LLP now owns 2,236,648 shares of the company’s stock valued at $397,452,000 after buying an additional 669,493 shares in the last quarter. Partners in Financial Planning bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $234,000. Everstar Asset Management LLC lifted its holdings in shares of AbbVie by 19.4% in the 4th quarter. Everstar Asset Management LLC now owns 2,728 shares of the company’s stock worth $485,000 after purchasing an additional 444 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in AbbVie by 4.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 222,691 shares of the company’s stock valued at $39,572,000 after purchasing an additional 8,525 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC raised its holdings in AbbVie by 56.8% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 1,932 shares of the company’s stock worth $343,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABBV. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.45.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock worth $11,067,025 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

Shares of NYSE ABBV opened at $205.12 on Monday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market capitalization of $362.85 billion, a PE ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The business’s fifty day moving average price is $197.50 and its 200-day moving average price is $188.91.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. AbbVie’s payout ratio is 273.33%.

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.