Oarsman Capital Inc. Sells 1,471 Shares of AbbVie Inc. (NYSE:ABBV)

Oarsman Capital Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% in the 4th quarter, HoldingsChannel reports. The firm owned 17,617 shares of the company’s stock after selling 1,471 shares during the quarter. Oarsman Capital Inc.’s holdings in AbbVie were worth $3,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter valued at $29,000. Promus Capital LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.08% of the company’s stock.

AbbVie Stock Down 7.5 %

Shares of AbbVie stock opened at $186.58 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market cap of $330.06 billion, a price-to-earnings ratio of 77.74, a PEG ratio of 1.62 and a beta of 0.61. The company has a 50-day moving average of $200.61 and a 200 day moving average of $189.24. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 previous year, the firm posted $2.79 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business 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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) 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.