Heritage Wealth Management Inc. Sells 152 Shares of AbbVie Inc. (NYSE:ABBV)

Heritage Wealth Management Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,126 shares of the company’s stock after selling 152 shares during the period. AbbVie accounts for about 1.4% of Heritage Wealth Management Inc.’s portfolio, making the stock its 9th largest position. Heritage Wealth Management Inc.’s holdings in AbbVie were worth $4,287,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Onefund LLC boosted its holdings in shares of AbbVie by 2.8% during the fourth quarter. Onefund LLC now owns 4,767 shares of the company’s stock worth $847,000 after purchasing an additional 130 shares during the last quarter. Richard W. Paul & Associates LLC boosted its holdings in shares of AbbVie by 4.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 7,753 shares of the company’s stock worth $1,378,000 after purchasing an additional 307 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of AbbVie by 1.2% during the fourth quarter. Metis Global Partners LLC now owns 98,664 shares of the company’s stock worth $17,533,000 after purchasing an additional 1,166 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of AbbVie by 11.1% during the fourth quarter. Fisher Asset Management LLC now owns 43,233 shares of the company’s stock worth $7,683,000 after purchasing an additional 4,319 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its holdings in shares of AbbVie by 27.0% during the fourth quarter. Maple Capital Management Inc. now owns 2,337 shares of the company’s stock worth $415,000 after purchasing an additional 497 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley raised their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value 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 approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Up 2.0 %

Shares of NYSE ABBV opened at $209.07 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $209.60. The firm has a market cap of $369.09 billion, a price-to-earnings ratio of 87.11, a PEG ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s 50-day simple moving average is $184.42 and its 200-day simple moving average is $186.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 period in the previous year, the business earned $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

AbbVie 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.