IHT Wealth Management LLC Sells 9,922 Shares of AbbVie Inc. (NYSE:ABBV)

IHT Wealth Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.6% during the 4th 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 quarter. IHT Wealth Management LLC's holdings in AbbVie were worth $11,157,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC lifted its holdings in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. grew its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares during the period. Armstrong Advisory Group Inc. increased its stake in AbbVie by 0.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock valued at $1,749,000 after purchasing an additional 58 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock worth $938,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $3.50 on Wednesday, hitting $177.28. 7,116,632 shares of the stock were exchanged, compared to its average volume of 6,025,439. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $313.60 billion, a PE ratio of 73.87, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The firm's 50 day moving average is $197.30 and its two-hundred day moving average is $187.37.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 prior year, the business earned $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.70%. AbbVie's payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the company's 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 completion of the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 in the last 90 days. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. StockNews.com lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Bank of America lifted their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday. They issued an "overweight" rating and a $210.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.