Schrum Private Wealth Management LLC Has $1.89 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Schrum Private Wealth Management LLC lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 36.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,619 shares of the company's stock after selling 6,001 shares during the quarter. AbbVie makes up approximately 1.6% of Schrum Private Wealth Management LLC's investment portfolio, making the stock its 15th largest position. Schrum Private Wealth Management LLC's holdings in AbbVie were worth $1,887,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC bought a new position in AbbVie during the 4th quarter worth approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction that occurred 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.45.

AbbVie Stock Performance

Shares of ABBV stock opened at $211.61 on Thursday. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. 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 firm has a 50-day moving average of $186.27 and a 200-day moving average of $187.31. The company has a market cap of $373.57 billion, a P/E ratio of 88.17, a P/E/G ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 period in the previous year, the company posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 3.10%. AbbVie's dividend payout ratio (DPR) is presently 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.

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