MGO One Seven LLC Sells 1,793 Shares of AbbVie Inc. (NYSE:ABBV)

MGO One Seven LLC cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,917 shares of the company's stock after selling 1,793 shares during the quarter. MGO One Seven LLC's holdings in AbbVie were worth $4,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the fourth quarter worth about $29,000. EnRich Financial Partners LLC lifted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter worth $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABBV shares. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday. They set an "overweight" rating and a $210.00 price objective on the stock. Morgan Stanley reaffirmed a "hold" rating on shares of AbbVie in a research note on Friday, April 11th. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.19.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. 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 90 days. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

NYSE ABBV opened at $177.28 on Thursday. The stock has a market capitalization of $313.60 billion, a price-to-earnings ratio of 73.87, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. 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 business's fifty day moving average price is $197.30 and its 200-day moving average price is $187.37.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $2.79 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

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.

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